Jon Najarian Sees Unusual Option Activity in $ABBV and $STM

On today’s CNBC Halftime Report, Jon Najarian is seeing unusual option activity in $ABBV & $STM.

In ABBV, traders are buying 3,200 of the 26July $80 calls for $0.30 to $0.36, which will break even with shares of AbbVie above $80.36 or so, before their expiration. Jon bought these calls.

In STM, traders are buying up 7,000 of the October $20 calls for $0.80 as part of a bullish roll. The calls break even with the shares of STMicroelectronics above around $20.80 before their expiration, and Jon also bought these calls, noting that he intends to be in the trade for about one to two months.