Najarian Brothers See Unusual Option Activity in $USB, $MU, $BIG & $CREE

On today’s CNBC Halftime Report, Jon and Pete Najarian are seeing unusual option activity in $USB, $MU, $BIG and $CREE, plus updates on $MLCO and $LK and Final Trades in $CI and $BMY.

Jon is seeing unusual activity in $USB as traders purchased some 3,928 of the 31January $60.50 calls for $1.06 to $1.09. Jon bought these calls, and plans to be in them for around two weeks.

Jon is also seeing unusual activity in $MU as traders bought 9,500 of the December $56 calls for $0.57 to $0.60. Jon bought these calls as well and will be in them until Friday, noting the company reports earnings after the closing bell today.

Jon also updated his trade in $MLCO, mentioning that the calls have returned more than 100% on the back of positive growth in Macau.

Pete is seeing unusual bullish activity in $BIG, as traders bought more than 3,400 of the January $32.50 calls for $0.30 to $0.45. Pete noted it is a name that doesn’t often frequent the scanners.

Lastly, Pete is seeing unusual activity in $CREE, where 2,500 of the December $47 calls were purchased for $0.26 to $0.70. Pete also bought these calls noting that by Friday they either do or do not work out.

Pete also updated his trade in $LK from Dec. 5 noting that trade did not work out for the options but the stock, which he owns, has appreciated.

Pete and Jon’s Final Trades were $CI and $BMY, respectively.