Pete Najarian Sees Unusual Options Activity In Newmont Mining Corp

, Pete Najarian spoke on the show about

and events in options market that caught his attention. He said that the stock hasn't performed well recently. When the company reported earnings on July it missed the revenue estimate, but it managed to beat the bottom line expectations. The stock hasn't done a lot since than and the market is not very excited about this name, but the options did start a trigger that maybe there is something positive going forward, thinks Najarian. The November 28 call options were very active, with 10,000 contracts traded in the first half of the Thursday's session, which is twice its open interest. Najarian explained that these are far out of the money call options and he added that he doesn't believe that they could expire in the money, but they could perform well if the stock trades higher. Pete Najarian is not prepared to open a long position in this name because he doesn't believe that gold can perform well going forward.