He noticed options traders sold the September 11, $77 strike puts in Advanced Micro Devices on Tuesday. They sold them for a price in the range from $1.25 to $2. Najarian sold these puts as well so if the stock closes below $77 on Friday, he will have to buy it at that price.
There was also a big volume in the September 11, $14 strike calls in AGNC Investment Corp. Traders paid just 15 cents for them. Najarian sees that as a very cheap shot and he decided to jump in the trade. He is going to hold the position for just a couple of days.