Najarian Brothers See Unusual Options Activity In Pinduoduo And Sirius XM

On CNBC's "Fast Money Halftime Report," Jon Najarian spoke about unusually high options activity in Pinduoduo Inc PDD. He noticed that options traders were buying the Oct. 21 calls in the name and he decided to follow the trade. He is planning to hold the position for at least a month and he is hoping that the stock is going to trade back to $32.

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Pete Najarian said options traders were also buying the at the money calls in Sirius XM Holdings Inc SIRI. They bought over 12,000 contracts of the Aug. 6 calls for 30 cents. Pete Najarian loves the risk-reward ahead of the earnings report. The company is going to report earnings on July 30 and Najarian sees huge upside potential in case of a good earnings report. He bought the calls and he is going to be long through these earnings.