Pete Najarian Sees Unusual Activity in $M

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

Today, traders were buying up very short term September calls, expiring this Friday, at the $22.5 strike. The stock has dipped recently, but 4,200 contracts were bought aggressively between $.23-.39. Pete is in these for a very short term trade.