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Jon Najarian's Coach Inc Trade

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CNBC Options Action's Jon Najarian said on the show that he bought some call options in Coach Inc (NYSE: COH).

He decided to place a bullish bet after he spotted an unusually high call options volume in this name. The most active were the February 41 calls, with 10.000 traded contracts and the weekly 38.50 calls, with 1,845 traded contracts.

Traders were paying approximately $0.30 for the weekly 38.50 and $1.25 for the February 41 calls. Breakevens for these trades are $38.80 and $42.25, respectively.

The stock is trading approximately $20 lower from its 52-week high and $3.00 off the lows. Najarian said that somebody is betting pretty big that Coach is going higher and he bought along with them. Coach gained 2.05 percent Thursday and closed at $37.27.

Posted-In: Jon Najarian Options ActionCNBC Media

 

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