Market Overview

Najarian Brothers See Unusual Activity In Colgate-Palmolive, MGM Resorts And Sprint


On CNBC's "Fast Money Halftime Report", Pete Najarian said that somebody bought 10,600 call options in Colgate-Palmolive Company (NYSE: CL) on Wednesday, just before the market close. He added that the trader targeted the August expiration.

Jon Najarian noticed some call options activity in MGM Resorts International (NYSE: MGM). Traders were buying the September 32/37 call spread in the first half of the session on Thursday. Najarian likes the trade and he decided to initiate a long position in MGM Resorts.

Options traders were also active in Sprint Corp (NYSE: S) on Thursday. Jon Najarian explained that they bought the January 8/9 call spread for $0.47 and they sold the January 5.50 puts for $0.37. The total cost for the trade is $0.10 and if the stock jumps to $9 or higher at the January expiration the profit for the trade is going to be $0.90.


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