Jon Najarian Sees Unusual Option Activity in $MU

On today’s CNBC Halftime Report, Jon Najarian is seeing unusual option activity in MU.

Traders were buying September $33 calls, with the stock moving up 3% today. The calls are now trading for over $.5o, and Jon thinks they will go a lot higher. He is in the trade for 1-2 weeks. Jon also mentioned that Steve Cohen added to their MU stake, so he thinks there is plenty of upside for this name.