Dan Nathan Sees Unusual Options Activity In BlackBerry

Dan Nathan spoke on CNBC's "Options Action", about a bullish options activity in BlackBerry Ltd BB. The overall options activity on Thursday was four times the average daily volume and 90 percent of the volume was in the call options.

Nathan added that the stock traded more than 3 percent higher on the news that BlackBerry is going to sue Facebook Inc FB over some of its messaging patent.

Options traders were making short-term bets. They were buying the March 9, 12.5 strike calls for $0.45. The trade breaks even at $12.95 or 0.47 percent above the closing price on Thursday.