Speaking on CNBC's Fast Money Halftime Report, Jon Najarian said he noticed aggressive call options buying in ENSCO PLC ESV on Friday.
Traders were buying the March 10 calls for $0.50. The trade breaks even at $10.50 or 5.95 percent higher and it expires in two weeks. Najarian decided to follow the trade and he's planning to hold it for a week. He added that if ENSCO breaks above $10, it is going to reach $12. If that happens, he's going to make a profit of $1.50.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in