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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
A Seadrill semi-submersible drilling rig sits under construction in the dry dock at the Hyundai Samho Heavy Industries shipyard in South Korea.

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.