Pete Najarian, the "Pit Boss," is ranked one of the top 100 traders by Trader Monthly magazine, and is cofounder of optionMONSTER.com, a news and information site for options traders. Following a football career that included several seasons with the NFL's Tampa Bay Buccaneers and Minnesota Vikings, Najarian took up options trading in 1992 joining his brother, Jon "DRJ" Najarian, at Mercury Trading, a market-making firm at the Chicago Board Options Exchange (CBOE). Two years later, he assumed responsibility for Mercury's risk and arbitrage and later led its entry onto the New York Stock Exchange (NYSE).
He also led Mercury's joint venture with M.J. Meehan, the third-largest specialist firm on the NYSE. From 2000 to 2004, Najarian served as president of Mercury, and helped execute its sale to Citadel, one of the world's largest hedge funds. During this period, Najarian chaired the Exemption Committee of the CBOE for three years and served as a floor official for eight terms.
More recently, he has been a founding member of One Chicago, an electronic exchange committed to becoming the global leader in futures on individual stocks, narrow-based indexes, and ETFs. He is the co-founder of Hedgehog stock, options, and futures trading platform and together with brother Jon, co-developed the Heat Seeker™ and complementary programs for tracking unusual buying activity in stocks, options, and futures. Najarian is one of the "Fast Money Five" on CNBC's "Fast Money," and also contributes to CBOE-TV, the exchange's popular webcast.
Najarian graduated cum laude from the University of Minnesota with a degree in genetic engineering.
Are the technical forces powerful enough to keep the S&P 500 on its current uptrend toward 1,000? Also why isn't Apple CEO Steve Jobs making the keynote address at Macworld?
Hartford is seeing heavy options trading Friday, as its stock soars more than 88% even as the broader markets drop. Hartford Financial Services, which has an average daily call volume of 10,000 contracts, saw 37,100 calls trade in the first hour of trading this morning. That's three times full session volume in just 60 minutes!
Heavy options action in Starbucks spacer at the start of the month foreshadowed the ultimate earnings miss and decaffeinated forecast out of the coffee chain after the bell yesterday, according to Pete Najarian, FM Trader and co-founder of OptionMonster.com. If you look at the chart, Starbucks shares began to go on a nice run at the end of October amid an interview in the Wall Street Journal where CEO and Founder Howard Schultz told the paper that he believed the company's sales may have hit bottom in September.
Traders no longer seem concerned with volatility in the market -- 200 down one day, 200 up the next day. Pete Najarian, appearing on satellite from Chicago, says traders have developed ADHD in response to the bipolar market -- bullish one day, bearish the next.
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
"I think this is a bull market still," Ed Yardeni says.
Netflix was upgraded to "buy" at Pacific Crest. Analyst Andy Hargreaves, says the stock pulled back and the company's earnings potential has gone up.
CNBC's Scott Wapner and the FMHR traders reflect on some of their best trades over the last 25 years.