On CNBC’s “Fast Money Halftime Report,” Pete Najarian said options traders were buying the January $14 calls in General Electric Company (NYSE:GE) on Wednesday. Around 50,000 contracts were traded for a dollar when the stock was trading just above $13. Najarian followed the trade and he is going to hold the position for quite a while.
There was also a purchase of around 12,000 contracts of the July $49 calls in Altria Group Inc (NYSE:MO) in the first half of the session on Wednesday. Traders were paying between 12 and 25 cents for these calls. Najarian likes the trade and he thinks the stock can make the move in a short period of time.
