On today’s CNBC Halftime Report, Jon and Pete Najarian saw some unusual option activity in MLCO and EOG.
Jon speculates that reports of an increase in high roller gamblers could be why people are buying these calls. Traders were selling 15,000 May 22 calls for $.77 , rolling into 15,000 June 24 calls for $.40. Jon was in this trade, and rolled his calls as well.
2 weeks ago, Pete saw some unusual activity in this name, specifically in the June 90 calls for $2.70. Today, traders sold these calls for $5.15, and rolled these calls out to the Jan 100 calls. Pete is in this name, using a call spread to play the move in January.