Market Overview

Pete Najarian Sees Unusual Options Activity In Phillips 66

Related PSX
10 Biggest Price Target Changes For Monday
Energy Sector Outlook: Economic Growth, OPEC And Geopolitical Tensions
Phillips 66: Sell Now, Buy Later (Seeking Alpha)

On CNBC's "Fast Money Halftime Report", Pete Najarian spoke about unusually high options activity in Phillips 66 (NYSE: PSX).

Around 5,000 contracts of the September 82.50 puts were traded in the first half of the trading session on Wednesday. A trader paid around $1 for them, which sets the break even for the trade at $81.50 or 3.54 percent below the current market price. Najarian said that he isn't in the trade yet. He has tried to get in, but he's waiting for the right price.

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


Related Articles (PSX)

View Comments and Join the Discussion!