Najarian Brothers See Unusual Option Activity in $CPB, $JCI, $MSFT & $PYPL

On today’s CNBC Halftime Report, Jon and Pete Najarian are seeing unusual option activity in $CPB, $JCI, $MSFT and $PYPL.

Jon is seeing unusual activity in CPB, as 10,000 of the January $42 calls were bought for up to about 3.60 as part of a bullish roll. Jon bought these calls and has already sold a higher strike as a spread.

Jon is also seeing unusual option activity in JCI, where 11,000 of the January $39 calls were bought for 0.30-0.37. Jon bought these calls, plans to be in them for a month or two, and will likely sell a higher strike to hedge against them as well.

Pete sees unusual activity in MSFT, in the January $100 calls, as 30,000 were bought for 10.16 as part of a bullish roll. Pete owns MSFT stock and calls and also noted that there was unusual activity in the December $105 calls as well.

Pete also sees an unusual trade in PYPL where 4,300 of the 24August $85 calls were bought for 1.33-1.48. Pete bought these calls.