Jon Najarian spoke on CNBC's "Fast Money Halftime Report" about unusual options activity in Apple Inc. (NASDAQ:AAPL) and Microsoft Corporation (NASDAQ:MSFT) on Friday. He noticed traders were selling put options in these big tech companies.
Najarian said the October $95 puts in Apple were sold aggressively for $2.35. Somebody stepped in and sold 13,000 contracts, which is an equivalent of 1,3 million shares, explained Najarian. He decided to follow the trade, but he has also bought calls in the name.
Traders also sold the October $185 puts in Microsoft, in a big way, said Najarian. Around 12,000 contracts were traded during the session on Friday. Najarian joined in the trade and added to his long position.