Pete Najarian Sees Unusual Options Activity In Airlines Sector
CNBC Fast Money's Pete Najarian said on the show that the airlines have been under a lot of pressure lately. It looks like investors are buying call options now to make a bullish bet in case a bottom is near.
Pete Najarian noticed a big volume in the August 36.50 call options in Delta Air Lines, Inc. (NYSE: DAL). Around 6,000 contracts were traded of these options, which expire by the end of the month.
There was also a big volume in the September 36 call options of American Airlines Group Inc (NASDAQ: AAL). Over 40,000 call options were traded in the first 45 minutes of the day in this name.
Pete Najarian is long American Airlines Group, and he is looking to buy Delta Airlines.
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