Jon Najarian spoke on CNBC's "Options Action" about unusually high options activity in Lucid Group Inc LCID on Tuesday. He said options traders are buying the August $23 calls in the name. Najarian bought the August $22 calls and he is hoping to sell upside calls against the position if the stock rallies.
Royal Caribbean Cruises Ltd RCL was also pretty active as traders were buying the October $85 calls on Tuesday.
Two oncology names were active on takeover rumors. Traders were buying the October $22.50 calls in Kura Oncology Inc KURA as the stock has gained 15% since Thursday. ALX Oncology Holdings Inc ALXO has gained 30% since Thursday, but the options activity was not high in the name.
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