Najarian Brothers See Unusual Option Activity in $M, $TELL & $DWDP

On today’s CNBC Halftime Report, Jon and Pete Najarian are seeing unusual option activity in $M, $TELL and $DWDP.

Jon is seeing unusual activity in M, as 10,000 of the September $40 calls were bought for 0.57 as part of a bullish spread. Jon bought these calls and plans to be in them at least through Labor Day.

Jon is also seeing unusual option activity in TELL, where 4,000 of the April $12.50 calls were bought for 0.50 to 0.55. Jon owns TELL calls.

Pete sees unusual activity in DWDP, in the October $72.50 calls, as 10,000 were bought from 0.79 to 0.98. Pete owns DWDP calls and noted that this trade follows the call buying in the October $70 strike, which he cited August 7.