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Pete Najarian Sees Unusual Activity In Petrobras

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On CNBC's "Fast Money Halftime Report", Pete Najarian spoke about unusual options activity in Petroleo Brasileiro SA Petrobras (ADR) (NYSE: PBR).

He said around 30,000 contracts of the February 12.50 calls were traded in the first half of the trading session. He explained that the trade is a part of a spread as the trader also sold the February 13.50 calls. To open a position, the trader sold to close the February 12 calls, with a profit.

Najarian followed the trade and he is planning to hold the position for a couple of weeks.

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

 

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