Pete Najarian Sees Unusual Options Activity In Nvidia, Nike And International Game Technology

On CNBC's "Fast Money Halftime Report," Pete Najarian spoke about unusually high call options activity in NVIDIA Corporation NVDA on Thursday. He saw a big purchase of 31,000 contracts of the September 24, $225 calls. He said it was a big trade with just two days to perform.

Options traders were also active in International Game Technology PLC IGT. They sold to close the November $23 calls and bought 20,000 contracts of the November $26 calls. They have also sold upside calls against the position.

See Also: Mike Khouw Sees Unusual Options Activity In Nike

Implied volatility in the September 24 expiration options in Nike Inc NKE is elevated because of earnings. Traders were buying short-term calls, especially the September $160 calls. To reduce the cost they were selling upside calls, too.