Pete Najarian Sees Unusual Options Activity In Juniper And Alibaba

Pete Najarian spoke on CNBC's "Fast Money Halftime Report" about unusually high options activity in Juniper Networks, Inc. JNPR and Alibaba Group Holding Ltd - ADR BABA in the first half of the trading session on Tuesday.

Around 6,000 contracts of the July $27.50 calls in Juniper were traded and traders paid between 30 and 50 cents for them. Najarian likes the trade and he decided to jump in.

He also bought calls in Alibaba because he saw a purchase of 13,000 contracts of the July $215 calls in the name. They were trading between $3.70 and $4. The trade breaks even around 4% above the current stock price.