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Pete Najarian Sees Unusual Options Activity In Virgin Galactic And Twilio

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Pete Najarian Sees Unusual Options Activity In Virgin Galactic And Twilio

On CNBC's "Fast Money Halftime Report," Pete Najarian spoke about unusually high options activity in Virgin Galactic Holdings Inc (NYSE: SPCE) and Twilio Inc (NYSE: TWLO).

Najarian noticed a purchase of the October $24.50 calls in Virgin Galactic and he sees that as a sign that somebody is expecting a great performance of the stock this month. Over 5,000 contracts were traded in the first half of the session for about a dollar. The trade breaks even at $25.50 or almost 25% above the current stock price.

Traders were also buying the October $300 calls in Twilio. That is a part of the reason why Najarian has a long position in Twilio. He owns these calls.

 

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