Najarian Brothers See Unusual Option Activity in $X, $CAR, $ALLY & $MU

On today’s CNBC Halftime Report, Jon and Pete Najarian are seeing unusual option activity in $X, $CAR, $ALLY and $MU.

Jon is seeing unusual activity in $X, as traders purchased 9,400 of the July $14 calls for $0.18 to $0.28. The trade breaks even when shares of U.S. Steel reach about $14.28, and Jon bought these calls.

Jon is also seeing unusual activity in $CAR, as traders purchased 21,000 of the August $41 calls for $0.30 to $0.35. Jon bought these calls, plans to hold them for about a month, and will look to sell a covered call on his position if the stock continues its strength.

Pete is seeing unusual activity in $ALLY, as traders purchased 15,200 of the August $33 calls from $0.40 to $0.55. The trade breaks even with the stock around $33.55 or so. Pete bought already owns ALLY calls, citing some of the previous activity, but the activity today gives him confidence in his position.

Lastly, Pete is also seeing unusual activity in $MU, as traders purchased 7,000 of the August $45 calls for $1.12 to $1.36.