Najarian Brothers See Unusual Options Activity In Gap And Coty

Jon Najarian spoke on CNBC's Fast Money Halftime Report about call options activity in Gap Inc GPS. He said that traders were buying the October weekly 22.50 call options and they were paying $0.60 for them. The breakeven for the trade is at $23.10 or 2.5 percent higher from the closing price on Wednesday. Jon Najarian sold a half of his position with a 500 percent return and he is going to hold the rest until tomorrow.

Pete Najarian noticed some call options activity in Coty Inc COTY. He explained that had an open position in the October 24 calls, around 50,000 contracts. They closed a half of that position on Wednesday as the stock traded higher and they rolled it to the October 25 calls. Pete Najarian decided to follow the trade and he is going to hold it for a couple of weeks.