Options traders were buying the November 1 expiration, $28 strike calls in MGM Resorts. Around 5,000 contracts were traded in the first half of the session and they paid 70 cents for them. The trade breaks even at $28.70 or 5.32% above the current stock price. Najarian bought these calls and he is planning to hold them for two weeks.
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Vistra Energy was also active. About 5,000 contracts of the November $28 calls were traded for 55 cents. The trade breaks even at $28.55 or 5.74% above the current stock price. Najarian followed the trade and he is going to hold the position for a month.
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