On CNBC's "Fast Money Halftime Report," Pete Najarian spoke about options activity in Snap Inc (NYSE: SNAP).When the stock was trading just below $22, Najarian noticed a purchase of 17,000 contracts of the August $22.50 calls. Traders paid around 60 cents for them, which sets the breakeven for the trade at $23.10. Najarian decided to follow the trade and he is going to hold it for two weeks.Traders were also buying the August $30 calls in Jumia Technologies AG - ADR (NYSE: JMIA).Najarian finds this very unusual because the stock is currently trading significantly lower. Around 4,000 contracts were traded ahead of the earnings results, which are scheduled for next week. Najarian bought these calls as well and he is planning to hold them through earnings or maybe even for two weeks.See more from Benzinga * Todd Gordon's Peloton Options Trade * Mike Khouw Sees Unusual Options Activity In Lyft * Cramer Gives His Opinion On Datadog, Alcoa And More(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. Read More...
<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="On
CNBC’s "Fast Money Halftime Report," Pete Najarian spoke about options activity in
Snap Inc (NYSE:
SNAP).” data-reactid=”19″>On
CNBC’s “Fast Money Halftime Report,” Pete Najarian spoke about options activity in
Snap Inc (NYSE:
SNAP).
When the stock was trading just below $22, Najarian noticed a purchase of 17,000 contracts of the August $22.50 calls. Traders paid around 60 cents for them, which sets the breakeven for the trade at $23.10. Najarian decided to follow the trade and he is going to hold it for two weeks.
<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Traders were also buying the August $30 calls in Jumia Technologies AG – ADR (NYSE: JMIA).” data-reactid=”21″>Traders were also buying the August $30 calls in Jumia Technologies AG – ADR (NYSE: JMIA).
Najarian finds this very unusual because the stock is currently trading significantly lower. Around 4,000 contracts were traded ahead of the earnings results, which are scheduled for next week. Najarian bought these calls as well and he is planning to hold them through earnings or maybe even for two weeks.
<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="See more from Benzinga” data-reactid=”27″>See more from Benzinga
<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="© 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.” data-reactid=”32″>© 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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