Najarian Brothers See Unusual Options Activity In Comerica And Whiting Petroleum

On CNBC's Fast Money Halftime Report, Jon Najarian spoke about a trade that caught his attention on Thursday. He said that he noticed in May a purchase of 8,000 contracts of the January 45 calls in Comerica Incorporated CMA. The stock moved higher since then and on Thursday a trader decided to sell to close the January 45 calls and open a long position in the April 50 calls. Najarian followed the trade and he bought the April 50 calls.

Pete Najarian was watching Whiting Petroleum Corp WLL on Thursday. He noticed unusually high options activity for a second day in a row. On Wednesday, traders bought over 9,000 contracts of the November 10 calls for $0.50 and on Thursday they bought 5,300 contracts of the November 9 calls. Najarian thinks that high volume in two days means that something is going on and he decided to follow the trade and buy the November 9 calls.