Options News
Pete Najarian Sees Unusual Option Activity in $MPC and $WFC
On today’s CNBC Halftime Report, Pete Najarian is seeing unusual option activity in $MPC & $WFC. In $MPC, traders are buying up 10,000 of the January $67.50 calls for $3.05 as part of a bullish roll. Pete bought these calls, and noted the frequency, since June, that the calls have been hitting for the name. […]
On today’s CNBC Halftime Report, Pete Najarian is seeing unusual option activity in $MPC & $WFC.
In $MPC, traders are buying up 10,000 of the January $67.50 calls for $3.05 as part of a bullish roll. Pete bought these calls, and noted the frequency, since June, that the calls have been hitting for the name.
In $WFC, traders bought 11,250 of the January *2021* $55 calls for $3.55-$3.60. Pete did not buy these calls, but instead purchased the underlying shares, which he will sell covered calls against, potentially monthly, to generate additional gains while the story of the new CEO plays out.