He said options traders were buying the July 39 calls in eBay. Around 5,000 contracts were traded on Monday and another 3,000 contracts were traded in the first half of the trading session on Tuesday. Najarian bought the calls and he is planning to hold them for 10 days.
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Jon Najarian also noticed a purchase of around 2,000 contracts of the June 87 calls in Consolidated Edison. He followed the trade and he is going to be in the position for two days.
Pete Najarian said over 5,000 contracts of the Aug. 30 calls were traded in MGM Resorts International (NYSE: MGM). They were paying around $1.10 for them. He thinks the Aug. 30 calls could double as he sees the stock trading at $30.
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