Pete Najarian Sees Unusual Options Activity In Corning Incorporated

On CNBC's Options Action, Pete Najarian said that he spotted an unusually high options activity in the October 22 call options in Corning Incorporated GLW. Traders were paying around $0.22 for this strike, which sets the breakeven for the trade at $22.22.

Najarian said the buyers of these options are hoping that the stock will trade above its 52-week high and the catalyst for such move could be the release of iPhone 6. He explained that the holding period for this trade would probably be over the next two weeks.

Corning dropped 11 percent on July 29 after it reported earnings, but managed to recover in August. It recently traded at $21.28.