Najarian Brothers See Unusual Option Activity in $SQ & $CARS

On today’s CNBC Halftime Report, Jon and Pete Najarian are seeing unusual option activity in $SQ & $CARS.

Pete sees unusual activity in SQ, where 5,500 of the 08February 75 calls were bought from $1.00 to $1.65. Pete bought these calls.

Pete then updated the trade in INTC from last week on Jan. 30, stating that although those calls had performed, reaching two-and-a-half times their purchase price within only two days, they had now traded as high as $2.86 on the day, or more than four times their original purchase prices.

Jon is seeing unusual activity in CARS, as traders purchased 5,000 of the June 30 calls for $1.50 and $1.55 as part of a bullish roll. Jon bought these calls and plans to be in them for two months.

Jon also updated a trade, in ARRY from yesterday, stating that he had taken about half the position off because those call prices rose about 60% overnight.