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Pete Najarian Sees Unusual Options Activity In JD And HSBC

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Pete Najarian Sees Unusual Options Activity In JD And HSBC

On CNBC's "Fast Money Halftime Report," Pete Najarian spoke about unusually high options activity in JD.Com Inc (NASDAQ: JD). He noticed a purchase of 2,000 contracts of the August 7, $65 calls. Traders paid around 75 cents for them, which sets the breakeven for the trade at $65.75 or around 3.8% above the current stock price. The expiry doesn't capture earnings event.

Najarian also noticed some short-dated activity in HSBC Holdings plc (NYSE: HSBC) as around 4,000 contracts of the August 7, $23 calls were traded in the first half of the session on Friday. It looks to him that somebody thinks earnings results are going to be pretty good. If the company says anything positive on earnings, the stock could bounce off its 52-week lows, thinks Najarian.

He also gave his opinion on Eastman Kodak Company (NYSE: KODK). He is fascinated by the trading volume, but he would stay away from this name.

 

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