GO
Loading...

Where the Upside Lies: Pete Najarian

Tuesday, 22 Jan 2013 | 6:22 PM ET
Expect Gains in These Names: Pete Najarian
As Google reports an earnings beat, OptionMonster's Pete Najarian thinks the stock market will see gains tomorrow.

As Google and IBM report strong quarterly earnings Tuesday, OptionMonster's Pete Najarian remained a buyer – via options.

"I'm taking off stock positions and putting on almost exclusively option positions. Volatilities are very low. That gives me an opportunity to be there. It also takes some of that risk off the table, try and put a lot of that capital back in my pocket and wait until we see – because do think we'll see – a pullback.

On "Fast Money," he added, "Just about every stock in my portfolio outside of Apple, I've shifted almost exclusively into options."

Najarian also said he had shifted his Research In Motion position into options.

"You've got this confluence," Tim Seymour of EmergingMoney.com said.

Strong quarterly earnings among S&P 500 companies, increased German confidence, additional stimulus from the Bank of England and the Bank of Japan, and a three-month extension to the federal debt-ceiling debate were all positive for the broader stock market, he added. "What more do you need?"

Trader disclosure: On Jan. 22, 2013, the following stocks and commodities mentioned or intended to be mentioned on CNBC's "Fast Money" were owned by the "Fast Money" traders: Pete Najarian is long AAPL; Pete Najarian is long BAC CALLS; Pete Najarian is long JPM CALLS; Pete Najarian is long RIMM CALLS; Pete Najarian is long SBUX; Pete Najarian is long FB ; Pete Najarian is long MSFT; Tim Seymour is long AAPL; Tim Seymour is long BAC; Tim Seymour is long CSCO; Tim Seymour is long SBUX; Guy Adami is long C; Guy Adami is long GS; Guy Adami is long INTC; Guy Adami is long AGU; Guy Adami is long MSFT; Guy Adami is long NUE; Guy Adami is long BTU; Karen Finerman is long AAPL; Karen Finerman is long BAC; Karen Finerman is long JPM; Karen Finerman is long WMT; Karen Finerman is long TGT; Karen Finerman is long MSFT; Karen Finerman is long GOOG; Karen Finerman is short SPY; Karen Finerman is short IWM.

  Price   Change %Change
GOOGL
---
IBM
---
AAPL
---
BB
---
S&P 500
---
S&P 500
---
DJIA
---

Featured

Contact Fast Money

  • Showtimes

    Halftime Report - Weekdays 12p ET
    Fast Money - Weekdays 5p ET
  • Melissa Lee is the host of CNBC's “Fast Money” and “Options Action.”

  • Scott Wapner is host of the "Fast Money Halftime Report," which airs weekdays from 12 p.m. to 1 p.m. ET.

  • Guy Adami is a contributor on CNBC's "Fast Money." He also is managing director of stockMONSTER.com.

  • Najarian, the "Pit Boss," is cofounder of optionMONSTER.com, a news site for options traders.

  • Finerman is president of Metropolitan Capital Advisors, Inc., a company she co-founded.

  • Founder of EmergingMoney.com

  • Chief Market Strategist for Virtus Investment Partners & CNBC Contributor

Halftime Report