On CNBC's Fast Money Halftime Report, Jon Najarian spoke about unusually high options activity in Facebook Inc FB.
Last week he noticed some put selling in the name and after the stock moved higher on Monday, he noticed that traders are buying call options. The November 120 calls were particularly interesting for him as their price more than doubled on Monday. Najarian decided to follow the trade and he is planning to hold the position for a couple of days, because these options expire on Friday.
Facebook spiked 4.06 percent Monday on the news of a $6 billion buyback.
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