Pete Najarian Sees Unusual Options Activity In Grupo Televisa SAB

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.