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Pete Najarian Sees Unusual Options Activity In Nio And Tesla

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Pete Najarian Sees Unusual Options Activity In Nio And Tesla

On CNBC's "Fast Money Halftime Report," Pete Najarian spoke about unusually high options activity in Nio Inc - ADR (NYSE: NIO).

Around 4,000 contracts of the October $23 calls were bought Tuesday for 75 cents. The trade breaks even at $23.75 or almost 25% above Tuesday's closing price. Najarian owns these calls and he has a couple of weeks for the trade to work.

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He also noticed high activity in Tesla Inc (NASDAQ: TSLA).

Around 600,000 contracts were traded in the first 90 minutes of trading Tuesday. Traders bought around 30,000 contracts of the September $450 calls, which expire Friday. Najarian followed the trade and he expects to see a break out above $450 in Tesla.

 

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