On CNBC’s “Fast Money Halftime Report,” Pete Najarian spoke about unusually high options activity in Advanced Micro Devices, Inc. (NASDAQ:AMD) and Pfizer Inc. (NYSE:PFE).
On Tuesday morning, he noticed a purchase of 27,000 contracts of the August 6, $110 calls in AMD and he decided to jump in the trade. Traders paid between $1.50 and $2.50 for these calls.
There was also some short-term activity in Pfizer as options traders were buying the August 6, $45-strike calls. They paid between 12 cents and 30 cents for these calls, which sets the breakeven for the trade at $45.12 to $45.30. The stock closed the session at $45.68, so the $45-strike calls are in the money.
See also: How to Buy Pfizer (PFE) Stock
