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Pete Najarian Sees Unusual Options Activity In Advance Auto Parts

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On CNBC's Fast Money Halftime Report, Pete Najarian spoke about unusually high call options activity in Advance Auto Parts, Inc. (NYSE: AAP).

He said traders were aggressively buying the June 150 calls for around $7. Around 4,500 contracts were traded in the first half of the trading session, which is equal to $3.15 million in premium. The trade breaks even at $157 or 5.76 percent above the current stock price.

Najarian decided to buy the stock and sell calls against the long position. He is planning to hold the position until June.

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

 

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