On CNBC’s “Fast Money Halftime Report,” Jon Najarian spoke about unusual options activity in Advanced Micro Devices, Inc. (NASDAQ:AMD) in the first half of the session on Thursday. He said traders were buying the June 18, $82-strike calls in the name and then they moved to the June 25, $85-strike calls. Both of these trades are projecting the stock goes significantly higher, said Najarian.
Around 10,000 contracts of the August $21 calls were traded in Macy’s Inc (NYSE:M) when the stock was trading at $18.44. The trade is perhaps a back-to-school play, said Najarian.
