Najarian Brothers See Unusual Option Activity in $SNAP, $GILD, $TSLA, $MU & $TWLO

On today’s CNBC Halftime Report, Jon and Pete Najarian are seeing unusual option activity in $SNAP, $GILD, $TSLA, $MU and $TWLO.

Pete sees unusual bearish activity in SNAP, in the 26October $7 puts, as 4,600 were bought for 0.41-0.46. Pete bought these puts and noted that they do capture the company’s earnings report the day before on the 25th.

Jon is seeing unusual activity in GILD, as 10,000 of the December $77.50 calls were bought for 2.29 to 2.39, as part of a bullish roll. Jon bought these calls.

Jon is also seeing unusual option activity in TSLA, where 4,000 of the 26October $280 calls were bought for 6.07 as part of a bullish spread, selling the $290 strike above.

Jon also sees unusual bullish activity in MU noting activity in the 30November $48 calls, where 5,000 were purchased for 0.78 as part of a bullish roll.

Jon lastly sees unusual option activity in TWLO, where 1,400 of the November $75 calls were bought for 4.33 to 6.25. Jon noted that this was the stock’s worst day since May of 2017.