On CNBC's "Options Action," Michael Khouw of Optimize Advisors said that trading in ExxonMobil Corp. XOM and other energy stocks suggests the overall market sentiment is bearish.

Check out other stocks making moves in the premarket.

There was a seller of 17,700 of the February 125 calls at an average price of $2.75 per contract, Khouw mentioned. The trader collected $4.8 million in premium and expects the rally to come to an end, he stated.

There was a similar activity in Schlumberger NV SLB and Halliburton Company HAL, Khouw added.

XOM Price Action: Shares of Exxon Mobil had risen by 0.13% to close at $113.06 on Thursday.