Pete Najarian Sees Unusual Options Activity In Raytheon

Pete Najarian said on CNBC's "Fast Money Halftime Report" he noticed unusually high options activity in Raytheon Company RTN.

Around 10,000 contracts of the November 190 calls were traded in the first half of the trading session Monday. Traders were paying from $3.30 to $4.20 for them, which sets the break even in a range from $193.30 to $194.20. Najarian thinks the stock is about to break out to the upside and he decided to buy call options in the name.