Najarian Brothers See Unusual Option Activity in $BX, $PVG & $SPY

On yesterday’s CNBC Halftime Report, Jon and Pete Najarian are seeing unusual option activity in $BX, $PVG and $SPY.

Jon sees unusual activity in BX, where 4,000 of the 07December $35 calls were bought from 0.18 to 0.40. Jon bought these calls, plans to be in them for two to three days.

Jon also sees unusual bearish activity in PVG, where 12,000 of the March $7 puts were purchased, for 0.75-0.80. Jon bought these puts also, noting that the company is expected to report earnings in March.

Jon then updated a trade in SQ, noting that he has since taken 2/3s of his position off, with the stock having reached as high as the $74 level in the pre-market.

Pete is seeing seeing unusual activity in SPY, as traders purchased 111,000 of the 28December $283 calls from 2.16 to 2.32. Pete bought these calls.

Pete also updated his trade in XLI from November 26, noting that the call prices had gone from their purchase price around 0.50 to nearly three dollars that morning.