On CNBC's "Fast Money Halftime Report," Jon Najarian spoke about unusually high options activity in Roku Inc (NASDAQ: ROKU). Traders were buying the September 4, $175 calls on Friday. They bought 4,000 contracts right away and then the real buying came in and its volume increased to over 14,000 contracts, explained Najarian. He owns these calls and he is probably going to take off half since they have already doubled.
Jim Lebenthal bought Roku during the show. He thinks it is a beneficiary of the stay-at-home economy. It has trailed Nasdaq and other stay-at-home stocks and it is still not trading at its all-time highs. He noticed it is catching a bid and he decided to get back in.
Options traders were also buying the September $87 calls in Starbucks Corporation (NASDAQ: SBUX). They were trading for 50 cents and Najarian decided to jump in. He is going to hold the position for two or three days.
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