Pete Najarian Sees Unusual Options Activity In Occidental Petroleum, GDX - Occidental Petroleum (NYSE:OXY

On CNBC's "Fast Money Halftime Report," Pete Najarian said traders bought 3,400 contracts of the January $33 calls in Occidental Petroleum Corporation (NYSE:OXY) on Tuesday. They paid between $2.50 and $2.70 for them which sets the break even for the trade at around 17% above the current stock price.

Najarian has also noticed a purchase of 4,000 contracts of the November $33 calls in VanEck Gold Miners ETF (NYSE:GDX), all in one print. This tells him people are starting to diversify a little bit more. He likes both Occidental and GDX.

OXYOccidental Petroleum Corp

$54.32-1.40%

Overview

GDXVanEck Gold Miners ETF

$83.447.08%

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