Jon Najarian spoke on CNBC's "Fast Money Halftime Report" about unusually high options activity in Caesars Entertainment Inc CZR and Lucid Group Inc LCID on Friday.
He noticed traders are buying the October $115 calls in Caesars Entertainment Inc with the stock trading around $109. Najarian said the company has a lot of exposure in Las Vegas and not in Macau.
See Also: Why This Lucid Group Analyst Says It's Among 'Most Legitimate' EV Startups
The October 1, $22 and the October 1, $24 strike calls were active in Lucid Group. The stock had a huge run in the first quarter during the SPAC craze, but it has traded sharply lower since then.
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