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Pete Najarian Sees Unusual Options Activity In Phillips 66

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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: Fast Money Halftime Report Pete NajarianCNBC Options Markets Media

 

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