Pete Najarian: Unusual Options Activity In This Mega Cap Tech Stock

On CNBC’s “Halftime Report,” Pete Najarian said there was some “unusual activity” in the options market for Apple Inc AAPL, which is trading at $148.

Traders bought 50,000 of $152.50 strike calls expiring Nov. 5. That’s a “pretty major move,” Najarian said.

This shows that someone is expecting to see the stock make a “pretty significant move to the upside in a short period of time,” he added.

The mega-cap company took a $6 billion hit to its fiscal fourth-quarter sales due to continued global supply chain issues. Shares of Apple have gained more than 15% year to date.