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On CNBC's Fast Money Halftime Report, Jon Najarian said that Cal-Maine Foods Inc CALM had unusually high options volume on Friday. Traders were buying the May 45 calls and Jon Najarian decided to follow the trade. He is planning to hold the position for 1 to 2 months.
Pete Najarian noticed a big options volume in United States Steel Corporation X. He said that traders are betting that the stock is going lower after it had a huge run. He also believes that there is more room to the downside in United States Steel.
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