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Options Action: Tech Trend

Friday, 18 Jul 2008 | 3:54 PM ET

Options action has revealed an interesting new development in tech, ahead of earnings.

OptionMonster Jon Najarian has his eye on Apple, Yahoo! , Amazon and other tech firms due to report earnings next week. And in his trading he's noticed an interesting tidbit.

“I see hedging in the Quad Q into September,” he says on CNBC’s “Closing Bell”.

Jon believes the action could be decidedly bullish for tech, overall.

"That suggests to me that tech investors who needed to cover already have," says Najarian. As a result, I’m not looking for extraordinary moves to the downside. I think Friday’s slide in tech could be it!”

We’ll be watching.

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