Najarian Brothers See Unusual Option Activity in $AMD, $CZR, $WIFI, $XLF & $XME

On today’s CNBC Halftime Report, Jon and Pete Najarian are seeing unusual option activity in $AMD, $CZR, $WIFI, $XLF and $XME

Pete is seeing unusual activity in AMD, as traders purchased over 8,000 of the 18April $31 calls from $0.53 to $0.70. Pete bought these calls and noted the upside buyers in AMD have been right throughout this year.

Pete is also seeing unusual activity in CZR, as traders purchased 10,000 of the 18April $10 calls for $0.07 as part of a complex bullish spread, selling an equivalent amount of upside calls and downside puts to finance the trade. Pete bought these calls as well.

Pete then made note of the unusual activity in $XME, where 10,000 of the May $32 calls were bought for $0.33. Pete bought these calls and noted that the materials could play a large part in the U.S.-China trade negotiations.

Likewise, Jon is also seeing unusual upside activity in $XLF, as over 110,000 of the June $28 calls were bought for $0.23 to $0.26. Jon bought these calls, and noted that the bulls were continuing to pile into the contract.

Lastly, Jon also sees unusual activity in $WIFI, as 2,700 of the May $25 calls were bought for up to $1.65. Jon bought these calls too.