On CNBC's "Fast Money Halftime Report," Pete Najarian said options traders are buying the April $22 calls in Signet Jewelers Ltd. (NYSE: SIG). They paid around $1.20 for them, which sets the breakeven for the trade at $23.20 or 47.49% above the current stock price. Pete Najarian followed the trade and he is going to hold the position probably until April.
He also noticed some call activity in International Paper Co (NYSE: IP). Traders were buying the October $42.50 calls and they paid around 30 cents for them. Pete Najarian loves the risk-reward for the trade and he thinks somebody is positioning for the move to the upside.
Jon Najarian spoke about unusual activity in Aerojet Rocketdyne Holdings Inc (NYSE: AJRD). There was a big upside call volume in the name as the November $55 calls were very active. Traders were paying around 55 cents for these calls. Jon Najarian likes the activity in Aerojet so he decided to buy the calls. He is going to hold the position for around a month.
Options traders were also buying calls in Cronos Group Inc (NASDAQ: CRON). They bought the January $7.50 calls, which he said are surrogate for owning the stock. He jumped in the trade and is planning to hold the position for two to three months.
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