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Jon Najarian Sees Unusual Options Activity In Snap And Axalta

On CNBC's "Options Action," Jon Najarian said there was a huge options activity in Snap Inc (NYSE: SNAP) Monday.

· 09/14/2020 16:15

On CNBC's "Options Action," Jon Najarian said there was a huge options activity in Snap Inc (NYSE:SNAP) Monday. Over 100,000 calls were traded in the first half of the trading session, explained Najarian. The most active were the September 25, $23.50 strike calls, the September 18, $24 strike calls and $25 strike calls. Najarian bought calls in the name and he is going to hold them for a week.

There was also a strong activity in the October $25 calls in Axalta Coating Systems Ltd (NYSE:AXTA). Around 17,000 contracts were traded in the first half of the session. Najarian followed the trade and he is planning to hold the position for a month.