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Pete Najarian Sees Unusual Options Activity In Macy's

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On CNBC's "Fast Money Halftime Report", Pete Najarian spoke about unusually high, bullish options activity in Macy's Inc (NYSE: M).

The stock fell 1.45 percent on Tuesday, but options traders were buying the short term calls in the name. They bought around 4,200 contracts of the September 22.50 calls, which expire on Friday. Najarian decided to follow the trade and he is going to hold the position for a couple of days. He believes the stock is going to trade higher, above $22.50.

 

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