Jon Najarian Sees Unusual Options Activity In iShares Russell 2000 Index (ETF)

On CNBC's Fast Money Halftime Report, Jon Najarian spoke about unusually high bearish options activity in iShares Russell 2000 Index (ETF) IWM. He said a trader bought 25,000 contracts of the April 135/120 put spread and sold 25,000 of the April 155 calls against the put spread.

Najarian thinks this was probably a hedge fund or a big trader that is trying to protect a long position in iShares Russell 2000 Index (ETF).