Jon Najarian spoke on CNBC's "Fast Money Halftime Report" about unusually high options activity in Caesars Entertainment Inc (NASDAQ:CZR) and Lucid Group Inc (NASDAQ: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.

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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.