Pete Najarian Sees Unusual Options Activity In American Eagle Outfitters

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Pete Najarian said on CNBC's "Fast Money Halftime Report" that the options market is telling him that American Eagle Outfitters AEO is ready to break out on the upside.

He explained that options traders bought around 10,000 contracts of the May 20 calls for around a dollar. The trade breaks even at $21 or around 15 percent above the current market price. Najarian added that he likes the company's balance sheet and buybacks.

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Posted In: CNBCOptionsMarketsMediaFast Money Halftime ReportPete Najarian
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