Jon Najarian buys beaten-down oil driller

A Seadrill semi-submersible drilling rig sits under construction in the dry dock at the Hyundai Samho Heavy Industries shipyard in South Korea.
SeongJoon Cho | Bloomberg | Getty Images

CNBC "Halftime Report" trader Jon Najarian bought shares of SeaDrill after spotting unusual activity in the options market for a name that's down 33 percent this year.

Here's where the trader sees the fast money headed and why he thinks the stock could rally.

More In Investing

CNBC ProTiger Global's Chase Coleman made a big bet on Roblox — check out the tech investor's other moves
CNBC Pro5 things investors in retail stocks can learn from the biggest U.S. mall owner
CNBC ProHere's why Cramer worries about Elon Musk's influence over the price of bitcoin