On today’s CNBC Halftime Report, Pete Najarian is seeing unusual option activity in $WBA and $T.
Traders were buying the April $65 calls in WBA, which were deep in-the-money. Pete is reading this as a stock replacement trade, but he himself is in the stock.
We also were seeing some call buying in T, where traders bought up 18,000 of the April $37 calls for $1.25, and also selling some of the $39 calls against. This action indicates that they think the stock has room to run from here.