Options News
Jon Najarian Sees Unusual Option Activity in $PYPL and $FCX
On today’s CNBC Halftime Report, Jon Najarian is seeing unusual option activity in $PYPL and $FCX, plus an update on $MGM. In $PYPL, traders are buying 2,500 of the 29November $104 calls for $0.87 to $0.96 as part of a bullish spread. Jon bought these calls, noted their presentation at a Citi conference next week […]
On today’s CNBC Halftime Report, Jon Najarian is seeing unusual option activity in $PYPL and $FCX, plus an update on $MGM.
In $PYPL, traders are buying 2,500 of the 29November $104 calls for $0.87 to $0.96 as part of a bullish spread. Jon bought these calls, noted their presentation at a Citi conference next week on Nov. 13, and that he will likely be in these calls right up until their expiration.
In $FCX, traders bought 12,500 of the December $12 calls for $0.37 as part of a bullish roll from a trade his brother Pete noted on Oct. 1, which today returned a handsome gain to those call buyers. Jon bought these as well and will hold them for about a month.
Jon also updated his trade in $MGM from Oct. 7, noting that it and Wynn Resorts (WYNN) have been running to the upside and the MGM calls have seen about a 300% gain since then.