Market Overview

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

Related WBA
Fred's Rallies On $165M Pharmacy Deal With Walgreens
Goldman Sachs Bearish On Standalone Rite Aid
Express Scripts taking credit for Gilead's planned launch of generic HCV meds (Seeking Alpha)
Related T
UBS Likes AT&T's Risk-Reward Profile After EBITDA, Time Warner Deal Pressure Share Price
From Facebook To Netflix: The S&P's Big Sector Shakeup, Explained
Your 53 Dividend Aristocrats September Scorecard From Dividend Dogcatcher (Seeking Alpha)

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


Related Articles (T + WBA)

View Comments and Join the Discussion!

Cramer: Go To Vegas Casinos Instead Of Gambling On Bitcoin

Mid-Afternoon Market Update: Vera Bradley Rises On Earnings Beat; Fred's Shares Plunge