Jon Najarian Sees Strong Options Activity In Roblox, Amazon: What You Need To Know

Zinger Key Points
  • Jon Najarian bought Roblox, Amazon call options after seeing unusual options volumes.
  • Roblox is down more than 60% year-to-date. Amazon is down more than 32% since the start of the year.

Growth stocks are catching some bids Tuesday amid falling Treasury yields. Market Rebellion co-founder Jon Najarian highlighted a few of the growth names investors seem to be focused on.

What To Know: Najarian bought Roblox Corp RBLX call options after seeing strong interest in the call-side contracts. 

"Obviously the stock has been slaughtered. It's down so dramatically that people ... are saying, I'm going to take a shot at this one," Najarian said Tuesday on CNBC's "Fast Money Halftime Report."

Roblox shares are down more than 60% since the start of the year, according to data from Benzinga Pro.

"Some of these stocks have been battered so severely that it's hard to imagine a much worse scenario," Najarian said. Inc AMZN is another name that has given back a lot of its gains. Amazon shares are down more than 32% year-to-date and traders are looking for a short-term pop to the upside, according to Najarian. 

"We have some strong unusual activity. How strong? 15,000 calls," he said. 

Those calls are at the $111 strike and are set to expire this week, he added. Najarian told CNBC he jumped into those contracts with the stock trading around $109 per share. 

See Also: Jeff Bezos Goes To Disneyland: Here's Why Fans Are Mocking Amazon Founder

RBLX, AMZN Price Action: At press time, Roblox was up 12.9% at $39.59 and Amazon was up 3.02% at $112.82.

Photos: courtesy of Roblox and Amazon.

Posted In: CNBCJon NajarianLong IdeasOptionsMarketsTrading Ideas

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