On CNBC's "Fast Money Halftime Report," Pete Najarian spoke about unusually high options activity in Abercrombie & Fitch Co. (NYSE:ANF) and Vale SA (NYSE:VALE).

Around 2,700 contracts of the November $18 calls in Abercrombie & Fitch Co. were traded for 32 cents in the first half of the session on Monday. The short interest in the name is pretty high, so Najarian expects to see a short squeeze on any positive news. He bought the calls and he is going to hold them until the November expiration.

About 7,800 contracts of the December $14 calls were traded in Vale SA. They were trading for approximately 10 cents and Najarian decided to jump in the trade.

Photo by Henning Schlottmann/Wikimedia.