Market Overview

Pete Najarian Sees Unusual Options Activity In Intercontinental Exchange And NRG Energy


Pete Najarian spoke on CNBC's "Fast Money Halftime Report" about unusually high options activity in Intercontinental Exchange Inc (NYSE: ICE) and NRG Energy Inc (NYSE: NRG).

He noticed that somebody bought in the first half of the trading session on Monday almost 20,000 contracts of the July 65 put in Intercontinental Exchange. Najarian believes that this isn't a bearish bet. He sees it as a protection for a long stock position.

Najarian also noticed a purchase of around 17,000 contracts of the July 17 call for 30 cents in NRG Energy Inc. The trade breaks even at $17.30 or 7.32 percent above the current stock price. Najarian is also bullish on the stock and he decided to follow the trade. He is planning to hold the position for a week and a half.

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


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