Biogen, JC Penney And More: Fast Money Picks For August 2

On CNBC's Fast Money Final Trade, Pete Najarian said he noticed unusually high options activity in Bristol-Myers Squibb Co BMY. He believes the stock is going higher and he thinks it's going to jump above its 52-week high.

Steve Grasso closed a portion of his long position in J C Penney Company Inc JCP. He explained that its long-term story is intact, but he wanted to take some profit.

David Seaburg is a buyer of Biogen Inc BIIB. He thinks the stock is going to continue to move higher.

Tim Seymour likes iShares MSCI South Korea Index Fund(ETF) EWY.