On CNBC's "Fast Money Halftime Report", Jon Najarian spoke about unusually high options volume in Centurylink Inc CTL and United States Steel Corporation X.
Options traders were aggressively buying the November 20 calls in Centurylink. Around 20,000 contracts were traded and they were also buying the January 21 and the January 22 calls, sweeping everything offered at a given price. Najarian believes this was institutional buying and he decided to jump in and buy the November 20 calls.
US Steel is breaking out to the upside and traders were buying the November 29 calls. Najarian followed the trade, but he is probably going to turn it into a spread.
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