On CNBC's Fast Money Halftime Report, Jon Najarian spoke about a big options trade in Walt Disney Co DIS.
Somebody bought 25,000 contracts of the June 115 calls and sold 50,000 contracts of the June 120 calls in the first half of the session on Wednesday. The trade breaks even 3 percent above the current market price and it makes its maximal profit of $5 at $120. If Walt Disney trades above $120 at the June expiration, the profit starts to trail off. The trade is going to lose money above $125.
Najarian decided to follow the trade and he is planning to hold the position for a month and a half.
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