Najarian Brothers See Unusual Option Activity in $ON, $FEYE, $ORCL, $MU, $MYL & $EXC

On today’s CNBC Halftime Report, Jon and Pete Najarian are seeing unusual option activity in $ON, $FEYE, $ORCL, $MU, $MYL and $EXC, plus an update on $COF.

Jon is seeing unusual activity in $ON, as traders purchased 6,500 of the August $23 calls for $0.50 to $0.66. The trade breaks even when shares of ON Semiconductor reach about $23.65, and the company reports its earnings on August 5th, before the opening bell.

Pete is seeing unusual activity in $FEYE, as traders purchased 4,600 of the 26July $15.50 calls for $0.11 to $0.19. Pete bought these calls and will be in them for a couple of days.

Pete is also seeing unusual activity in $ORCL, as traders purchased 3,500 of the August $58 calls from $0.78 to $0.87. Pete bought these calls and will be in them for a week and a half.

Pete also updated a trade in $COF from July 16 in the August $92.50 calls, and noted that the trade has tripled, and that he is now out on discipline.

Also, Pete sees unusual activity in $MU, as traders purchased 20,000 of the 02August $50 calls for $0.70 as part of a bullish roll. Pete also bought these calls.

Jon is also seeing unusual activity in $MYL, as traders purchased 6,000 of the 02August $21 calls from $0.50 to $0.60 as part of a bullish roll. Jon bought these calls and noted that they expire before the company is slated to report its quarterly earnings.

Lastly, Jon is also seeing unusual activity in $EXC, as traders purchased 4,300 of the September $48 calls for $0.32 to $0.35. Jon also bought these calls, planning to be in the trade for about a month.