Bear Stearns as well as Lehman, Goldman and other banks are opening up the books next week. What’s the trade ahead of broker earnings?
I’ve never seen a stock beaten-up like Bear, says Jon Najarian. There's put activity which suggests there’s at least some chance Bear could be selling at $5 or lower by next Thursday. If Bear survives the week, and I believe they will, the options also suggest Bear will be bought.
This bank is probably the best on the Street, says Pete Najarian. I think they could crush numbers. I like this stock under $160.
I think Bear under so much stress is a benefit to GS, adds Karen Finerman.
Options action in Lehman is similar to action in Bear a few days ago, explains Pete Najarian.
Merrill is 85% correlated to Bear over the last 3 months, explains Jon Najarian. And I’m seeing unusual put activity.