On CNBC's "Fast Money Halftime Report," Pete Najarian spoke about high call options activity in L Brands Inc (NYSE: LB). He explained that around 11,000 contracts of the December $20 calls were traded in the first half of the session. Traders paid 20 cents for these calls and they expire next Friday.
Around 5,000 contracts of the December $49 calls in Metlife Inc (NYSE: MET) were traded for 80 cents. The trade breaks even at $49.80 or 1.78% above the closing price on Thursday.
See Also: Aurinia Pharmaceuticals Call Buyers Hit The Jackpot With Well-Timed Option Trades
Jon Najarian noticed that options traders were buying the December $32 calls in Luckin Coffee Inc - ADR (NASDAQ: LK). He followed the trade and he is going to hold the position for two weeks.
See more from Benzinga
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- Najarian Brothers Highlight Unusual Option Activity In Verizon, Luckin Coffee
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