On today’s CNBC Halftime Report, joined by special guest Jim Cramer, Pete Najarian is seeing unusual option activity in TMUS and CRM.
In TMUS, traders were buying calls out-of-the money, 20,000 OCt $67 calls for $.30. This trader might be expecting a sharp upside move in the name in the near future. Cramer thinks that the stock might be undervalued and that he likes CEO John Legere.
In CRM, traders were selling 18,000 of the $92.5 puts in October for $.60. Pete sees this as a very bullish bet, and Pete bought call spreads in the name looking for upside. Cramer mentioned that CEO Mark Benioff is in New York taking meetings, which he speculates could be a positive for the company.