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Unusual Activity On The eBay Inc (EBAY) Stock Post Its 52 Week High Earlier This Month

eBay Inc (NASDAQ:EBAY) stock has performed exceptionally well in 2015 so far with stock prices going up by around 4% YTD. The eBay Inc (NASDAQ:EBAY) stock had breached the $60 mark in the second week of March, but hovering just below $60 mark after that. Meanwhile, FMHR Trader Pete Najarian observed some unusual activity in the eBay Inc (NASDAQ:EBAY) stock and explained on CNBC about what he observed and what he thinks about it.

eBay, Tinder, is EBAY a good stock to buy, Chris Payne, Sean Rad,

Najarian pointed out that eBay Inc (NASDAQ:EBAY) stock had shot up from $53 in the end of January to more than $60 during the second week of March. He said that after waning back from the $60 mark, eBay Inc (NASDAQ:EBAY) stock has seen some unusual activity earlier today.

He pointed out that traders are going out for weekly options with eBay Inc (NASDAQ:EBAY) stock. He said that people are trying to test that $60 mark on the eBay Inc (NASDAQ:EBAY) stock through this options.

“[…] Huge move when the stock was right around $53 a share, shot up to the 52 week highs at around a little bit over $60 a share. Then it started to kind of wane back off. Today, we started to see some huge activity. They aren’t going out that far. They are going for the weekly options. Weekly 59 strike call. They came in, 6500 of those traded very early in the trading day. People looking for this stock to may be breakout, may be test that $60 mark that it hit before. These were trading around 30 cents, suddenly 50 cents. If this doubles I going to take some off, otherwise I am going to hold until Friday. I think that this stock wants to test those 52 week highs,” Najarian said.

He pointed out that people are bullish on eBay Inc (NASDAQ:EBAY) to test the 52 week high of $60 that it earlier in this month.

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