Pete Najarian Sees Unusual Options Activity In VanEck Vectors Oil Services ETF

On CNBC's "Fast Money Halftime Report", Pete Najarian spoke about unusually high options activity in VanEck Vectors Oil Services ETF OIH.

Around 23,000 contracts of the July 32 calls were purchased in the first half of the trading session for 85 to 88 cents. The trade breaks even at around $32.85 or approximately 15 percent above the current market price. Najarian took off his long positions in the energy space Monday, but he decided to follow this trade and buy calls in VanEck Vectors Oil Services ETF.