Pete Najarian Sees Unusual Options Activity In Strategic Hotels and Resorts Inc

, Pete Najarian spoke about unusually high bullish options activity in

. Najarian showed on a chart that the stock moved from $11.9 to $13.78 since June 1st. He said that the action on Monday in the name is unusual in so many ways because he has never seen this name pop up on his screen. On Monday, 5,000 contracts of the December 15 calls were traded and traders were paying around $0.45 to $0.50 for them. The break even for the trade is at $15.50. Somebody thinks that

is going to reach 52-week highs, added Najarian. He decided to follow the trade and buy the same strike.