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Najarian addressed Wachovia's [WB
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] surprise first-quarter loss, refinancing, planned job cuts and slashing its dividend. He then noted his own prescient statements to CNBC on Friday: "As I said, there was very strong, unusual activity in WB [options]."
"Somebody knew about [Wachovia's finances] -- I can say that with absolute certainty," said Najarian, who is also a regular on CNBC's "Fast Money."
Wilkinson agreed: "The catchword is always 'volatility'."
He noted traders' "strangle play" on Washington Mutual [WM
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] -- but believes that hectic options activity is more a product of "good research" than any special knowledge.
Recommendations:
So what companies' pre-earnings options should investors be watching?
"Take a look at Honeywell [HON
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], which reports on Friday," advised Najarian.
He also notes that job-search Web site Monster Worldwide [MNST
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] "was hit hard over the past year." Its options activity hints that "people believe something may be happening."
Disclosure:
Disclosure information was not immediately available for either guest.
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