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