Pete Najarian Sees Unusual Options Activity In Freeport-McMoRan

On CNBC's Fast Money Halftime Report, Pete Najarian said that he noticed unusually high call options volume in Freeport-McMoRan Inc FCX, on a day when the stock spiked 8.27 percent.

Around 10,000 contracts of the March 18 calls were bought for $0.60 in the first half of the session. The trade breaks even at $18.60 or 9.28 percent above the closing price of Freeport-McMoRan. Najarian decided to follow the trade and he is planning to hold the position for a couple of weeks.