On CNBC’s “Fast Money Halftime Report,” Pete Najarian spoke about unusually high call options activity in NVIDIA Corporation (NASDAQ:NVDA) on Thursday. He saw a big purchase of 31,000 contracts of the September 24, $225 calls. He said it was a big trade with just two days to perform.
Options traders were also active in International Game Technology PLC (NYSE:IGT). They sold to close the November $23 calls and bought 20,000 contracts of the November $26 calls. They have also sold upside calls against the position.
See Also: Mike Khouw Sees Unusual Options Activity In Nike
Implied volatility in the September 24 expiration options in Nike Inc (NYSE:NKE) is elevated because of earnings. Traders were buying short-term calls, especially the September $160 calls. To reduce the cost they were selling upside calls, too.
