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Najarian Brothers See Unusual Options Activity In Tapestry, Altice


On CNBC's "Fast Money Halftime Report," Pete Najarian said options traders were buying the Oct. $25 calls in Tapestry Inc (NYSE: TPR). Around 16,000 contracts were traded in the first half of the session for approximately $2.50. Najarian decided to follow the trade and he is planning to hold the position for a month or a month and a half.

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Pete Najarian noticed a purchase of 6,000 contracts of the Sept. $30 calls in Altice USA Inc (NYSE: ATUS). He said that traders were paying around 60 cents for them, which he finds very inexpensive in terms of risk-reward to the upside. Pete Najarian added that its chart looks like the stock wants to continue to move higher.


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Posted-In: CNBC Fast Money Halftime Report Jon Najarian Pete NajarianOptions Markets Media