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Top Gun

Wednesday, 14 May 2008 | 6:36 PM ET

Should you bet on defense stocks to keep outperforming the market? Find out what options action suggests.

I’m watching Raytheon, reveals Jon Najarian, as well as General Dynamicsand Honeywell . All three stocks had unusual options activity which leads me to believe these stocks are going higher.

I love HON, adds Guy Adami. I think it’s still cheap on a valuation basis. Also look at Lockheed .

Tomorrow's Trades #2
Fundamentals and options activity pointing to continued strength in defense stocks, with the Fast Money team.

Meanwhile, it could be worth noting that big-dollar warplane programs run by Boeing and Lockheed Martin Corp received boosts in the House of Representatives Armed ServicesCommittee on Wednesday. As part of its version of a 2009 defense policy bill, the panel voted to spend $3.9 billion to buy 15 Boeing C-17 cargo planes.





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Trader disclosure: On May 14, 2008, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Adami Owns (AGU), (BTU), (C), (GS), (INTC), (MSFT), (NUE); Macke Owns (MSFT), (INTC), (WMT), (EMC), (DIS); Pete Najarian Owns (AAPL), (BKC), (ENER), (TSO), (XLF); Pete Najarian Owns (C) Calls, (MSFT) Calls, (YHOO) Calls; Finerman Owns (GS); Finerman's Firm Owns (JCP), (MSFT), (SUN), (TSO), (VLO), (AEO), (PLCE); Finerman's Firm Owns (YHOO) Puts And Call Spreads; Finerman's Firm Owns (C) And (C) Leaps; GE Is The Parent Company Of CNBC; NBC Universal Is The Parent Company Of CNBC; Charles Schwab Is A Sponsor Of "Fast Money"

Jon Najarian Owns (LVS), (RTN), (HON)

  Price   Change %Change
GD
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HON
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LMT
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RTN
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BA
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  • Melissa Lee is the host of CNBC's “Fast Money” and “Options Action.”

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  • Founder of EmergingMoney.com

  • Chief Market Strategist for Virtus Investment Partners & CNBC Contributor

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