Trader bets on this refiner

Options Action: Energy washout

Crude oil's nearly 45 percent plunge in the past 12 months has made energy stocks the worst-performing sector in the same period, falling nearly 20 percent. But as crude has soared off its lows, some traders are betting big on one name in particular.

"Energy stocks have actually been the most volatile stocks in the S&P 500 over the course of the past 30 days and the options market is implying that it will be the most volatile sector in the next 30 days as well," Mike Khouw, options expert and CNBC contributor, said Wednesday on CNBC's "Fast Money."