On today’s CNBC Halftime Report, Jon and Pete Najarian are seeing unusual option activity in COH and LULU.
Jon was seeing call buying in COH November $45 strike, with 5,000 traded. Jon jumped in for around $1, and thinks this is the way to buy a “falling knife”. This is just another example of how to use options to limit risk and increase upside.
Pete was seeing some buying in LULU, with the October $65 calls being bought for $2, which is also a bullish bet. Pete has been in this name numerous times, and he likes the trade.