Options traders showed outsized interest in both names this morning, according to Market Rebellion co-founder Pete Najarian.
“The buying in these names has been absolutely extraordinary,” Najarian said on CNBC’s “Fast Money Halftime Report.”
He told CNBC that he has seen volume spikes in Ford call options six times so far this month. “They just continue to come in … everything is very short-term though,” he noted.
Najarian already owned Ford calls, but said he he decided to roll up to a higher strike price today. He did not specify the strike or expiration of the calls he bought.
Related Link: BZ Chart Of The Day: Ford Motors Higher
Boeing bounced off its 52-week lows toward the end of December and has been trending higher since. “They started to buy calls once again,” Najarian said.
He told CNBC that he noticed unusual activity in the January expiration $225 strike Boeing calls. With airline stocks starting to show signs of recovery, Najarian thinks Boeing could be a beneficiary.
The combination of unusual options activity and airline stocks catching bids led Najarian to buy Boeing calls today, he explained.
F, BA Price Action: At time of publication, Ford was up 2.84% at $25.16 and Boeing was up 2.99% at $224.09.
Photos: courtesy of Ford and Boeing.