Options Action w/ Jon Najarian

Friday, 27 Mar 2009 | 6:22 PM ET

Jon Najarian, co-founder of OptionMonster.com tells the desk that the options market has been consumed by M&A chatter this week.

And two stocks are lighting up his screen.


MEMC Electronics

Najarian has spotted a surge in WFR call buying. The speculation is that BASF is taking a look at this firm.

WFR Call Volume
9,400 10,400 41,000 2900 12,000
Mon Tues Wed Thus Fri
Source: Optionmonster



Najarian has also spotted a surge in AGNcall activity. Glaxo and Baxter were being tossed around as buyers.

Allergan Call Volume
37,200 75,200 24,500 18,000 4,500
Mon Tues Wed Thurs Fri
Source: Optionmonster


Conclusion: The volume in call options traded suggests these stocks could go significantly higher.

M&A Chatter Heats Up
Discussing whether dealmaking will return to the Street, with Jon Najarian, OptionMonster.com and the Fast Money crew.

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Trader disclosure: On Mar. 27th, 2009, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Macke Owns (AAPL), (POT), (WMT), (SDS), (GE), (GS); Macke Is Short (BRK.B); Adami Owns (AGU), (BTU), (C), (GS), (INTC), (MSFT), (NUE); Seymour Owns (AAPL), (BAC), (FXI), (EEM), (TTM), (RIO), (TSO), (WFC); Finerman's Firm Is Short (IJR), (MDY), (SPY), (USO), (IWM); Finerman's Firm Owns (BAC) Preferred; Finerman's Firm Owns (MSFT); Finerman's Firm Owns (WFC) Preferred; Finerman's Firm Is Short (BPO)

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  • Melissa Lee is the host of CNBC's “Fast Money” and “Options Action.”

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  • Najarian, the "Pit Boss," is cofounder of optionMONSTER.com, a news site for options traders.

  • Finerman is president of Metropolitan Capital Advisors, Inc., a company she co-founded.

  • Founder of EmergingMoney.com

  • Chief Market Strategist for Virtus Investment Partners & CNBC Contributor

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