Market Overview

Najarian Brothers See Unusual Options Activity In Bristol-Myers, AMD And More


On CNBC's "Fast Money Halftime Report," Pete Najarian spoke about unusually high options activity in Bristol-Myers Squibb Co (NYSE: BMY). He said options traders were buying the June $60 calls on Monday for about a dollar. These options are well out of money since the stock is trading currently at $50.71. Najarian owns calls in the name, but he didn't buy the June $60 calls.

He also noticed high options volume in United States Natural Gas Fund, LP (NYSE: UNG). When the stock was trading at $20, there was a huge volume in the November $21 calls. Around 20,000 contracts were traded and options traders paid around a dollar for them, explained Najarian. He followed the trade and he is planning to hold it for three or four weeks.

Jon Najarian noticed a purchase of more than 6,000 contracts of the October $30.50 calls in Advanced Micro Devices, Inc. (NASDAQ: AMD) and he decided to follow the trade. Traders were buying these calls in big chunks and Jon Najarian likes this kind of activity.

Bed Bath & Beyond Inc. (NASDAQ: BBBY) got an upgrade from Wedbush on Monday, but options traders were buying the October $12 puts. Jon Najarian thinks somebody might be trying to lock in the gains or he or she might be betting that the stock is going to reverse on earnings, which are scheduled for Oct. 2. Jon jumped in the trade.

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


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