On today’s CNBC Halftime Report, Jon and Pete are seeing unusual option activity in CTSH and AVGO.
Jon saw some trader’s buying up 17,000 Oct $62.50 puts, as the stock is near an all-time high. Jon thinks that someone is buying short-term protection here.
Pete is seeing unusual activity in AVGO, where 2,000 Jan $3 strike for $6. Traders then sold 2,000 January $2 puts, creating a bullish combo spread. Pete is in this one, and will hold for 2-4 months.