Pete Najarian spoke on CNBC's Fast Money Halftime Report about unusually high options activity in Grupo Televisa SAB (ADR) TV. He explained that the stock is trading in a $23 to $31 range and recently it started to recover from a 12 percent decline in September.
Najarian decided to open a long position in the stock after he noticed that somebody bought 3,500 contracts of the January 27 calls on Tuesday. The trader paid $1 for the trade and it breaks even at $28 or almost 9 percent higher at the January expiration. Najarian is planning to hold calls in the name for couple of months.
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