Jon Najarian Sees Unusual Options Activity In ON Semiconductor And Rambus

On CNBC's "Fast Money Halftime Report", Jon Najarian spoke about unusually high options activity in ON Semiconductor Corp ON and Rambus Inc. RMBS.

He said that options traders were buying calls in ON Semiconductor aggressively. Around 30,000 contracts of the April $25 calls were traded for around a dollar. The trade breaks even at $26 or around 30% above the current stock price. Najarian followed the trade and he is going to hold the position for several months.

Over 5,000 contracts of the Oct. $14 calls in Rambus were traded on Friday. Najarian bought these calls and he is going to be in the position for two to three weeks.