Jon Najarian Sees Unusual Options Activity In Signet

On CNBC's "Fast Money Halftime Report," Jon Najarian spoke about unusually high options activity in Signet Jewelers Ltd. SIG. The company is going to report earnings next week and Najarian noticed some call options buying ahead of the event.

Around 3,500 contracts of the June 44 calls were traded in the first half of the session on Tuesday. Najarian added that traders were also selling the June 50 calls. He thinks there's a decent possibility the stock could make a move higher after the earnings report. He's optimistic because Tiffany & Co. TIF reported good earnings. He also likes the stock because it has been sold off hard recently and it has a 15 percent short interest.