Najarian Brothers See Unusual Options Activity In General Dynamics, American Express And VIX

On CNBC's Fast Money Halftime Report, Jon Najarian spoke about unusually high bullish options activity in General Dynamics Corporation GD. He said that traders were buying the May 190 calls for $3.30. The trade breaks even at $193.30 or around 3 percent higher. Najarian bought calls in General Dynamics and he is planning to hold them for two weeks.

He also spoke about iPath S&P 500 VIX Short Term Futures TM ETN VXX. Around 30,000 contracts of the May 18 calls were bought in the first half of the session and traders also sold the same number of the September 24 calls. Najarian followed the trade.

Pete Najarian was also on the show and he said that he noticed a put options activity in American Express Company AXP. Somebody was selling July 80 puts for $5.50. The trade is going to start to lose money below $74.50. Pete Najarian sees the trade as a bullish sign and he bought a call spread in American Express Company.