Pete Najarian Sees Unusual Activity In Cloudflare And Union Pacific

Pete Najarian said on CNBC's "Fast Money Halftime Report" there was some pretty nice, active call options buying in Cloudflare Inc NET early in the session on Monday. Around 7,000 contracts of the August $42 calls were traded. Najarian likes the trade, but he warned his viewers that this is a very short term trade, because these options expire on Friday.

Around 2,000 contracts of the September $195 calls were traded in Union Pacific Corporation UNP, said Najarian. Options traders were also selling further up strike calls, just to get the price down a little bit.