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July 27, 2020, 3:09 p.m. EDT

Jon Najarian Sees Unusual Options Activity In FedEx And Melco

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By Benzinga.com

On CNBC's "Fast Money Halftime Report," Jon Najarian said options traders were buying the July $170 calls in FedEx Corporation /zigman2/quotes/203047719/composite FDX -2.49% 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 /zigman2/quotes/208333844/composite MLCO -3.00% . 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.

© 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

/zigman2/quotes/203047719/composite
US : U.S.: NYSE
$ 244.08
-6.22 -2.49%
Volume: 4.25M
Sept. 17, 2020 4:00p
P/E Ratio
16.08
Dividend Yield
1.07%
Market Cap
$65.73 billion
Rev. per Employee
$304,846
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/zigman2/quotes/208333844/composite
US : U.S.: Nasdaq
$ 18.09
-0.56 -3.00%
Volume: 3.51M
Sept. 17, 2020 4:00p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
$8.89 billion
Rev. per Employee
$262,832
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