Friday "Day" Fever
You’ve heard of Saturday Night Fever? Pete Najarian had Friday Day Fever, and found himself dancing in the options pits as speculation swirled in one of the “craziest days of the year” for the options market.
Especially wild were the options for ValueClick (VCLK), Pete says, specifically the October $22 and $25 calls.
The online ad space will continue to consolidate, he says, and there just aren’t too many players left out there. People are even jumping on the October $30 calls – that’s two weeks and $5 away!
Security software firm McAfee (MFE) was also very active. October $40 call volume spiked Tuesday, and Pete Najarian urges investors to keep an eye on this name.
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Trader disclosure: On Oct 5, 2007, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders: Macke Owns (ATVI), (INTC); Najarian Owns (VCLK), (NDAQ); Finerman Owns (GS); Finerman's Firm And Finerman Own (HD); Finerman's Firm Owns (BWS), (GE), (WMT), (TGT), (PSS), (COP); Finerman's Firm Is Long (MSFT) Calls; Finerman's Firm Owns S&P 500 Puts; Finerman's Firm Owns Russell 2000 Puts; Seygem Asset Management Owns (BX), (BBD), (EEM), (EWZ), (GLD), (ITU), (TWX), (CFC)