Pete Najarian Sees Unusual Options Activity In Blackstone And US Steel

On CNBC's "Fast Money Halftime Report," Pete Najarian spoke about bullish options activity in Blackstone Group Inc BX and United States Steel Corporation X.

Options traders were buying the August $57 calls in Blackstone on Friday and they paid around $1.25 for them. The trade breaks even at $58.25 or around 4% above the current stock price. Najarian likes the trade because it gives him a bit of diversification outside of the banks.

He has also noticed a purchase of the August $8 calls in U.S. Steel. Traders paid around 40 cents for them, which sets the breakeven for the trade at $8.40 or almost 7% higher from the current price. Najarian expects to see a big move higher in the materials.