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Najarian Brothers See Unusual Options Activity In Gold, Pan American Silver And More

Craig Jones

On CNBC's "Fast Money Halftime Report," Jon Najarian spoke about VanEck Vectors Gold Miners ETF (NYSE: GDX). He noticed that almost 30,000 contracts of the July 24 calls were traded on Wednesday. He bought calls in the name and he is planning to hold the position for several weeks.

Jon Najarian also noticed call options buying in ProShares UltraPro Short QQQ (NASDAQ: SQQQ). Traders were buying the July 55 calls. Najarian explained that this is a bearish bet because SQQQ is the short ETF and he thinks the trade might be a protection.

See Also: A Look At Some Unusually Large Options Trades In Dropbox

Pete Najarian spoke about Dropbox Inc (NASDAQ: DBX). Over 20,000 contracts of the July 23 calls were bought on Wednesday. He followed the trade and he is going to hold these calls for at least a month.

Options trading were also buying the July 12 calls in Pan American Silver Corp. (NASDAQ: PAAS), said Pete Najarian. He bought these calls as well.

Learn from Jon Najarian and other traders in person at the Benzinga Global Trading & Investing Summit June 20 in New York City!

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