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Jon Najarian Sees Unusual Options Activity In Wal-Mart

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On CNBC's "Fast Money Halftime Report", Jon Najarian said that he noticed unusually high call options volume in Wal-Mart Stores Inc (NYSE: WMT).

He believes that a big institution bought around 7,500 contracts of the June 79.50 calls in the first half of the trading session on Friday. They paid around $1.20 for them, which sets the break even for the trade at $80.70 or 1.51 percent above the current market price.

Najarian decided to follow the trade and he is planning to hold it for 2 to 3 weeks.

 

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