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Jon Najarian Sees Unusual Options Activity In Micron Technology And Range Resources

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On CNBC's "Fast Money Halftime Report", Jon Najarian spoke about unusually high options activity in Micron Technology, Inc. (NASDAQ: MU). He explained that average options volume in the name is pretty small, and in the first half of the trading session on Friday, around 25,000 contracts of the June 31 calls were traded. He followed the trade and is planning to hold the position for two to three weeks.

Najarian has also noticed increased call options activity in Range Resources Corp. (NYSE: RRC). He said options traders were buying the June 24/26 call spread and that they are looking for a quick bounce higher. He added that they are trying to turn a very small investment into about 4 times their money.

 

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Posted-In: CNBC Fast Money Halftime Report Jon NajarianAnalyst Color Options Markets Media Trading Ideas

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