Options News
Pete Najarian Sees Unusual Option Activity in $DVN & $MDR
On today’s CNBC Halftime Report, Pete Najarian is seeing unusual option activity in $DVN and $MDR. Pete is seeing unusual activity in DVN, as traders purchased 3,500 of the November $42 calls for 1.31 as part of a bullish roll. Pete bought these calls and noted that the bullish paper in energy has been right a lot more […]
On today’s CNBC Halftime Report, Pete Najarian is seeing unusual option activity in $DVN and $MDR.
Pete is seeing unusual activity in DVN, as traders purchased 3,500 of the November $42 calls for 1.31 as part of a bullish roll. Pete bought these calls and noted that the bullish paper in energy has been right a lot more often than it’s been wrong. He’ll be in the trade at least through earnings, after the close on November 6, and will take off half of the trade if they double quickly.
Pete also sees unusual activity in MDR, as traders purchased 5,350 of the February $20 calls for 0.90 to 0.95. Pete bought these calls, plans to hold them out until February, but if they double he will use discipline to take off half of the trade.