E I Du Pont De Nemours And Co (NYSE:DD) saw unusual activity in its September $67.50 strike price Call options, in Tuesday morning trading, right when the markets opened. This option traded at nearly $0.50 in the morning when someone purchased them in bulk.
Pete Najarian, FMHR (Fast Money’s Halftime Report) trader, discussed the unusual activity in E I Du Pont De Nemours And Co (NYSE:DD) options on CNBC’s ‘Halftime Report’.
“This is a stock, if you get a chance, take a look at the year to date, its actually holding on to the 200 day moving average extremely well, which is right around 64.60 somewhere in there, but when you look and you suddenly see they already reported earnings so what else is on the horizon? I really can’t give you the answer to that other than the fact that sometime today in the first 9 minutes they were coming after these September 67.5 calls,” Najarian said.
He also revealed that 13,000 options were traded in the first 9 minutes and in the next minutes 24,000 options had been traded of these E I Du Pont De Nemours And Co (NYSE:DD)’s Call options. Najarian is of the view that someone is placing a very bullish bet, expecting to see E I Du Pont De Nemours And Co (NYSE:DD)’s stock to rise upwards and breakout towards it’s 52-week high and probably even touch $70.
“I own only the options; I own exactly these September $67.50 calls. I bought them just after they started hitting on the scene. I am going to give them about one, maybe two weeks, but if they double, I am out,” Najarian revealed.