Pete Najarian Sees Unusual Options Activity In Intel And Starbucks

On CNBC's "Fast Money Halftime Report," Pete Najarian spoke about unusual options activity in Intel Corporation INTC. He noticed a purchase of the September 11, $53 strike calls on Wednesday. Around 10,000 contracts were traded for about 80 cents. The trade breaks even at $53.80 or around 3% above the current stock price. Najarian owns shares of Intel and he bought calls on Wednesday.

Around 5,000 contracts of the September 11, $90 strike calls in Starbucks Corporation SBUX were traded when the stock was at $87. Najarian thinks that Starbucks is going to break out on the upside and he decided to follow this trade. He is going to hold these calls until September 11, unless the stock moves higher earlier.