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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Date of Trade | ticker | Put/Call | Strike Price | DTE | Sentiment |
---|
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.