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Jon Najarian Sees Unusual Options Activity In Marathon Petroleum, Caesars And Merck

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On CNBC's "Fast Money Halftime Report", Jon Najarian said he noticed unusually high options activity in Marathon Petroleum Corp (NYSE: MPC), Caesars Entertainment Corp (NASDAQ: CZR) and Merck & Co., Inc. (NYSE: MRK).

Traders were buying the September 52.50 calls for 57 cents in Marathon Petroleum. Around 5,000 contracts were traded in the first half of the session and the trade breaks even at $53.07 or 3.79 percent above the closing price on Thursday. Najarian thinks that the trade is related to the hurricane Harvey and he decided to buy the calls.

Options traders were also active in Caesars Entertainment Corp. Almost 16,000 contracts of the October 12 calls were traded in first half of the session.

Najarian also noticed aggressive call options buying in Merck. Traders were buying the September 63 calls and Najarian decided to jump in the trade.

Posted-In: Fast Money Halftime Report Jon NajarianCNBC Options Markets Media


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