Pete Najarian Sees Unusual Options Activity In Lowe's And Financial Select Sector SPDR Fund

On CNBC's "Fast Money Halftime Report", Pete Najarian spoke about unusually high options activity in Lowe's Companies, Inc. LOW and Financial Select Sector SPDR Fund XLF.

He said options traders were buying the October 115 calls in Lowe's. Almost 12,000 contracts were traded and traders paid around 80 cents for them, which sets the breakeven for the trade at $115.80 or 4.52 percent above the current stock price. Najarian has a long position in the name.

He also noticed some aggressive options buying in Financial Select Sector SPDR Fund. Around 50,000 contracts of the November 29 calls were traded on Thursday and Najarian decided to follow the trade. He's going to hold the position for two months.