Pete Najarian Sees Unusual Options Activity In Advanced Micro Devices And Pfizer

On CNBC's "Fast Money Halftime Report," Pete Najarian spoke about unusually high options activity in Advanced Micro Devices, Inc. AMD and Pfizer Inc. PFE.

On Tuesday morning, he noticed a purchase of 27,000 contracts of the August 6, $110 calls in AMD and he decided to jump in the trade. Traders paid between $1.50 and $2.50 for these calls.

There was also some short-term activity in Pfizer as options traders were buying the August 6, $45-strike calls. They paid between 12 cents and 30 cents for these calls, which sets the breakeven for the trade at $45.12 to $45.30. The stock closed the session at $45.68, so the $45-strike calls are in the money.