Market Overview

Najarian Brothers See Unusual Options Activity In Altaba, Snap And Corning


Pete Najarian spoke on CNBC's "Fast Money Halftime Report" about Altaba Inc (NASDAQ: AABA). He noticed unusually high call options volume in the name for the second day in a row. Options traders bought 20,000 contracts of the December 80 calls Monday and they came back Tuesday to buy another 10,000 contracts. Najarian bought these calls Monday and he's going to hold the position for three to four weeks.

Jon Najarian noticed short term, weekly bets in Snap Inc (NYSE: SNAP). The company is going to report earnings Tuesday after the market close and the options traders are buying Friday expiration, 16 strike calls. Around 16,000 contracts were traded and traders were paying between 50 and 80 cents for them. Najarian followed the trade and he is going to close it Wednesday morning.

Corning Incorporated (NYSE: GLW) also had a high options volume in the first half of the session, said Jon Najarian. Almost 8,000 contracts of the December 32 calls were traded and Najarian jumped in. He's going to hold the position for a week.

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


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