Pete Najarian Sees Unusual Option Activity in $XBI

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

Traders were buying up calls in the SPDR Biotech EFT, specifically in the November $90 strike. 22,000 calls were bought, which is very unusual volume in an ETF of this size. Pete did get into these, and is looking for a move in the next 5 weeks.