Market Overview

Pete Najarian Sees Unusual Options Activity In Phillips 66

Related PSX
One Reason Trump May Not Ban Oil From Brutalized Venezuela? US Gas Prices Would Shoot Up
Will Trump Ban Oil From Violence-Torn Venezuela? President Faces Tough Foreign Test

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


Related Articles (PSX)

View Comments and Join the Discussion!