Pete Najarian Sees Unusual Options Activity In Nio And DraftKings

Pete Najarian spoke on CNBC's "Fast Money Halftime Report" about unusually high options activity in Nio Inc - ADR NIO.

He said it started early in August and this was the fourth trading session with unusually high options activity this month. Traders were buying the August $16.50 calls on Tuesday. These calls expire on Friday, but more than 60,000 contracts were traded. Najarian owns call options in the name.

Around 12,000 contracts of the August $40 calls in DraftKings Inc DKNG were traded on Tuesday. Najarian owns shares of DraftKings and he thinks that if the stock jumps above $40, there will be plenty of room on the upside.