Najarian Brothers See Unusual Options Activity In GLD And Vale

On CNBC's "Fast Money Halftime Report", Jon Najarian spoke about unusually high bullish options activity in SPDR Gold Trust (ETF) GLD. He said that traders bought in the first half of the trading session around 20,000 contracts of the September 2018, 144 strike calls. Najarian decided to follow the trade.

Pete Najarian spotted a very aggressive call options buying in Vale SA (ADR) VALE. Around 5,100 contracts of the September 10.50 calls were traded in the first half of the session. They paid 25 cents for them, which sets the break even for the trade at $10.75 or 7.61 percent above the current stock price. Pete Najarian owns the calls and he is planning to hold them for two to three weeks.