Najarian Brothers See Unusual Option Activity in $TPR & $ATUS

On today’s CNBC Halftime Report, Jon and Pete Najarian are seeing unusual option activity in $TPR and $ATUS, plus updates on $FCX and $FB.

Jon is seeing unusual activity in $TPR, as traders purchased more than 14,800 of the October $25 calls for $0.29 to $0.50. Jon also bought these calls, expecting to be in the trade for about a month.

Jon also updated his trade in $FCX from Aug. 26, noting that those calls have moved quickly to the upside and that he has closed out half the position, in order to practice discipline. Jon commented that the shares could continue higher, but taking profits is never a bad idea.

Pete is seeing unusual activity in $ATUS, as traders purchased 6,000 of the 13September $30 calls for $0.45 to $0.75. The long calls breaks even when shares of ATUS reach roughly $30.50 and Pete bought these calls, noting the risk/reward being attractive.

Pete lastly updated his trade in $FB from yesterday, noting that those calls have tripled in less than 24 hours, and that he is entirely out his call position, but maintains stock.