CNBC " Halftime Report " trader Jon Najarian bought shares of State Street Corp. on Wednesday after spotting unusual activity in the options market. Najarian is in second place in the CNBC Pro's Model Portfolio competition, up 10 percent on the year, beating the S & P 500, which is up 1 percent. Here is what Najarian sees and why he thinks the stock can rally from here. "I see very strong activity in (State Street's) December $75 calls. Over 8,000 have traded compared to an open interest of 451," Najarian said on CNBC's Halftime Report. Read More Top trader: Buy this regional bank on a Fed hike He added, "The market is anticipating something positive like a rate increase." State Street is up 7 percent since reporting earnings on Oct. 23. The shares are down 8 percent in 2015. Read More 'Squawk Box' investor buys beaten-down tech stock For all the picks and analysis for the "Halftime Report" Portfolio, click here . Disclosure: Jon Najarian is long State Street for his personal account.
