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Najarian Brothers See Unusual Options Activity In Melco, Pfizer, Nvidia and Abbvie

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Speaking on CNBC's "Fast Money Halftime Report", Pete Najarian said he noticed unusually high options volume in Melco Resorts & Entertainment Ltd(ADR) (NASDAQ: MLCO). He explained that traders were buying the November 24 calls Monday. Over 10,000 contracts were traded in the first half of the session and Najarian followed the trade. He already owns the stock and he believes it has some upside potential, because it's lagging behind Wynn Resorts, Limited (NASDAQ: WYNN).

He also noticed that traders are buying the November 35.50 calls in Pfizer Inc. (NYSE: PFE). Around 10,000 contracts of the November 35.50 calls were trade and there was also some volume in puts, but Pete Najarian sees the put options activity in Pfizer as protection buying.

Jon Najarian noticed high options volume in the November 205 calls in NVIDIA Corporation (NASDAQ: NVDA) ahead of earnings. He also spoke about unusual activity in AbbVie Inc (NYSE: ABBV). Traders were buying the November 91 calls in the name.

 

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