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Jon Najarian buys Qualcomm on unusual activity

Qualcomm signage and a shadow of CEO Steve Mollenkopf
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Qualcomm signage and a shadow of CEO Steve Mollenkopf

CNBC "Halftime Report" trader Jon Najarian bought shares of Qualcomm, a maker of smartphone semiconductor chips, on Friday after spotting unusual activity in the options market.

Najarian is one of the top traders in CNBC Pro's Model Portfolio competition, up 4.5 percent on the year, beating the S&P 500, which is down 5 percent.

Here is what Najarian sees and why he thinks the stock can rally from here...

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