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Options Action with Jon Najarian

What’s the options market telling us about stocks? Jon Najarian reveals two plays he likes, right now!

“I think you can find some pretty interesting trades between now and the end of the year,” Najarian tells Dylan Ratigan on CNBC’s Closing Bell. Of course it’s fine to wait until January, but if you see a reason to be in the market “come on in the water is fine.”

And Najarian sees at least two reasons to dive in.

Nat Gas

“The tip of my nose is frozen and that’s a good sign that it’s time to buy natural gas,” he says. “The whole country is blanketed with unseasonably cold weather. I’d look at Chesapeake. It’s pulled back and I think it’s a fabulous buy around $15. Also option trading in this stock suggests it could go higher.”

(And on Fast Money other traders have suggested this stock as a buy - as a play on Barrack Obama's promise to have a green presidency.)

Stryker

“Unusual call buying in the front month (January calls) suggests shares of Stryker could go to about $45,” says Najarian. “Currently it’s trading at about half it’s 52-week high.”


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Trader disclosure: On Dec. 22nd, 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); Seymour Owns (AAPL), (BAC), (F), (MER), (DXO); Seygem Asset Management Owns (FXI), (EEM); Finerman's Firm Owns (MSFT); Finerman's Firm Owns (OIH) Puts; Finerman's Firm Is Short (IYR), (IJR), (MDY), (SPY), (IWM), (USO); CIBC Gartman Index Owns Soybeans, Gold, Natural Gas, Australian Dollar, Canadian Debt, Canadian Dollar; CIBC Gartman Index Is Short Crude Oil; CIBC Gartman Index Is Short Euro



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