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Pete Najarian Sees Unusual Options Activity In Union Pacific And iHeartMedia

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On CNBC's "Fast Money Halftime Report," Pete Najarian spoke about unusually high options activity in Union Pacific Corporation (NYSE: UNP) and iHeartMedia Inc (NASDAQ: IHRT).

Union Pacific is interesting to Najarian because he expects it to break out to the upside on the earnings report, scheduled for April 22. Options traders bought the April 30, $225 strike calls in the name and they paid for them between $3.30 and $3.50.

Najarian also noticed that options traders were buying the May 20 calls in iHeartMedia. Around 4,000 contracts were traded for 70 cents. The trade breaks even at $20.70 or 13.67% above the closing price on Friday.

 

Related Articles (UNP + IHRT)

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Posted-In: CNBC Fast Money Halftime Report Pete NajarianOptions Markets Media

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