Pete Najarian Sees Unusual Options Activity In Apple And Wells Fargo

On CNBC's "Fast Money Halftime Report," Pete Najarian spoke about unusually high options activity in Apple Inc AAPL in the first half of the session on Tuesday. In the morning, right out of the gate, we had some buyers of the July 30, $155-strike calls in Apple and a little bit later they bought around 9,000 contracts of the July $138 calls. Najarian has also noticed a purchase of 9,500 contracts of the July $139 calls. He sees Apple as a stock that wants to break out above $140.

Around 15,000 contracts of the August $45 calls in Wells Fargo & Co WFC were traded during the first half of the session on Tuesday. At the same time, traders were selling downside puts. Najarian finds this very bullish.