SPY328.73+5.23 1.62%
DIA271.70+3.60 1.34%
IXIC10,913.56+241.30 2.26%

Jon Najarian Sees Unusual Options Activity In Tapestry And Capri Holdings

On CNBC's "Fast Money Halftime Report," Jon Najarian spoke about unusually high options activity in Tapestry Inc (NYSE: TPR) and Capri Holdings Ltd (NYSE:

· 09/10/2020 16:19

On CNBC's "Fast Money Halftime Report," Jon Najarian spoke about unusually high options activity in Tapestry Inc (NYSE:TPR) and Capri Holdings Ltd (NYSE:CPRI).

He said traders were buying the September 18, $15 strike calls in Tapestry in the first half of the trading session Thursday. They were paying about 50 to 60 cents for them, which sets the break-even at $15.50 to $15.60. As the stock traded sharply higher, these calls closed the session in the money.

The September 18, $18.50 strike calls were traded in Capri Holdings, said Najarian. These are also in the money as the stock spiked almost 10% Thursday. Najarian followed both trades and he is planning to hold them for about a week.