Pete Najarian Sees Unusual Options Activity In Oracle

Pete Najarian said on CNBC's Fast Money Halftime Report that he noticed unusually high bullish options volume in Oracle Corporation ORCL.

He explained that somebody bought 8,500 contracts of the July 48/50 call spread for $0.22 in the first half of the trading session. The trade breaks even at $48.22 or 7.25 percent above the closing price on Friday. If the stock jumps 11.21 percent or higher, the trade is going to reach its maximal profit of $1.78. Najarian likes the trade and he decided to buy the call spread.