Najarian Brothers See Unusual Options Activity In Tapestry, Altice

On CNBC's "Fast Money Halftime Report," Pete Najarian said options traders were buying the Oct. $25 calls in Tapestry Inc (NYSE: TPR). Around 16,000 contracts were traded in the first half of the session for approximately $2.50. Najarian decided to follow the trade and he is planning to hold the position for a month or a month and a half.

See Also: Cloudera, Twitter And More 'Fast Money Halftime Report' Picks From September 5

Pete Najarian noticed a purchase of 6,000 contracts of the Sept. $30 calls in Altice USA Inc (NYSE: ATUS). He said that traders were paying around 60 cents for them, which he finds very inexpensive in terms of risk-reward to the upside. Pete Najarian added that its chart looks like the stock wants to continue to move higher.

© 2019 Benzinga does not provide investment advice. All rights reserved.


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