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Jon Najarian Sees Unusual Options Activity In Ensco

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Speaking on CNBC's Fast Money Halftime Report, Jon Najarian said he noticed aggressive call options buying in ENSCO PLC (NYSE: ESV) on Friday.

Traders were buying the March 10 calls for $0.50. The trade breaks even at $10.50 or 5.95 percent higher and it expires in two weeks. Najarian decided to follow the trade and he's planning to hold it for a week. He added that if ENSCO breaks above $10, it is going to reach $12. If that happens, he's going to make a profit of $1.50.

Posted-In: CNBC Fast Money Halftime Report Jon NajarianOptions Markets Media

 

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