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Pete Najarian Sees Unusual Options Activity In Walgreens And AT&T

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On CNBC's "Fast Money Halftime Report", Pete Najarian spoke about unusually high options activity in Walgreens Boots Alliance Inc (NASDAQ: WBA) and AT&T Inc. (NYSE: T).

He said options traders are buying deep in the money calls in Walgreens. They bought the April 65 calls and Najarian explained that this could be a stock replacement strategy. He has a long position in the name.

Around 20,000 contracts of the April 37 calls were traded in the first half of the trading session in AT&T. Traders paid around $1.25 for these calls, which sets the break even for the trade at $38.25 or 5.78 percent above the current stock price.

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

 

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