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Pete Najarian spoke on CNBC's "Fast Money Halftime Report" about unusually high options activity in Citigroup Inc (NYSE:C).
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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He noticed that almost 12,000 contracts of the June 67 calls were bought in a single print in the first half of the trading session on Monday. The buyer paid around $0.30, which sets the break even for the trade at $67.30 or 4.63 percent above the current stock price.
Najarian decided to follow the trade and he is planning to hold the position for a week.