Pete Najarian Sees Unusual Activity in $MT

On today’s CNBC Halftime Report, Pete Najarian alerted us to some unusual option activity in MT.

In light of recent upgrades in steel stocks, traders were buying up the MT 30June $21.5 calls for $.35, with the stock trading around $21. Pete says if the stock can break through the 50-day moving average, there is some room for upside.