Jon Najarian Sees Unusual Options Activity In Snap And Axalta

On CNBC's "Options Action," Jon Najarian said there was a huge options activity in Snap Inc SNAP Monday. Over 100,000 calls were traded in the first half of the trading session, explained Najarian. The most active were the September 25, $23.50 strike calls, the September 18, $24 strike calls and $25 strike calls. Najarian bought calls in the name and he is going to hold them for a week.

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There was also a strong activity in the October $25 calls in Axalta Coating Systems Ltd AXTA. Around 17,000 contracts were traded in the first half of the session. Najarian followed the trade and he is planning to hold the position for a month.