On CNBC's "Fast Money Halftime Report," Jon Najarian spoke about unusually high options activity in Verizon Communications Inc. (NYSE: VZ). Options traders bought around 10,000 contracts of the March $62.50 calls in the first half of the trading session. Najarian followed the trade and he is probably going to be in the position for two months.
Pete Najarian noticed high options activity in Quanta Services Inc (NYSE: PWR). Around 4,000 contracts of the January $43 calls were traded for about $1.10. The breakeven for the trade is at $44.10 or 4.35 percent above the current stock price.
Luckin Coffee Inc - ADR (NASDAQ: LK) options were also active on Wednesday. Around 10,000 contracts of the January $30 calls were traded for $5.50. Pete Najarian already owns the stock and he is planning to sell calls against his long position.
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