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On CNBC's "Fast Money Halftime Report", Pete Najarian spoke about unusually high options activity in United Parcel Service, Inc. (NYSE: UPS). He said that options traders are buying the January 2020, 140 strike calls. Around 20,000 call options were traded in the first half of the session and traders were paying $3.20 for them. The trade breaks even at $143.20 or 21.12 percent above the current market price. Pete Najarian owns shares of UPS and he thinks the stock is going much higher.
Jon Najarian said that options traders were buying the November 62.50 calls in United Continental Holdings Inc (NYSE: UAL) and they were selling the out of the money puts to finance the purchase of calls. Jon Najarian followed the trade and he is planning to hold the position for two weeks to a month.