On CNBC's "Fast Money Halftime Report," Jon Najarian said options traders were buying the July $170 calls in FedEx Corporation (NYSE:FDX) in the first half of the session on Monday. A week ago they were buying the July $160 calls. He loves following somebody that has been right so he decided to buy the July $170 calls. He is going to hold the position for two to three days.
Najarian has also noticed some action in Melco Resorts & Entertainment Ltd (NASDAQ:MLCO). Traders were buying the September $16 calls for $1.25. The trade breaks even at $17.25 or around 12% above the current stock price. Najarian bought these calls and he is going to hold them for a month.