Jon Najarian Sees Unusual Options Activity In Peloton And IWM

On CNBC's "Fast Money Halftime Report," Jon Najarian spoke about unusually high options activity in Peloton Interactive Inc PTON and iShares Russell 2000 ETF IWM.

He said traders were buying calls in Peloton for quite a while and on Tuesday they bought the October 16, $115 strike calls for $4. Najarian followed the trade and he is planning to hold the position for three to five days.

He also bought the October $159 calls in IWM after he saw big volume in these calls. He is going to hold the position for two to three days.