Jon Najarian Sees Unusual Option Activity in $LEN and $SUM

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

In LEN, traders are buying 10,000 of the August $52.50 calls for $0.56 as part of a bullish spread. Jon bought these calls and plans to be in them for four to six weeks.

In SUM, traders are buying up 4,000 of the August $17.50 calls for $1.35 to $1.80. The calls break even with the shares of Summit above around $19.30 before their expiration, and Jon also bought these calls, noting that he intends to be in the trade for about four to six weeks as well.