Jon Najarian Sees Unusual Options Activity In Macy's And Freeport-McMoRan

On CNBC's Fast Money Halftime Report, Jon Najarian spoke about unusually high call options activity in Macy's Inc M and Freeport-McMoRan Inc FCX.

He said that traders were buying the May 30 calls in Macy's on Tuesday. They bought around 9,000 contracts in the first half of the trading session and Najarian decided to follow them. He is planning to hold the position until the middle of next week.

Najarian also bought calls in Freeport-McMoRan after he noticed that somebody bought 22,000 contracts of the January 2018, 14 strike calls. He didn't buy the January expiration, because he is planning to hold the position for a couple of months.