Pete Najarian Sees Unusual Option Activity in $WBA & $T

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On today’s CNBC Halftime Report, Pete Najarian is seeing unusual option activity in $WBA and $T.

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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.

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