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Heavy volume in options trading has Jon Najarian speculating two companies could be new takeover targets.
And on the Fast Money Final Call the OptionMonster suggests putting two stocks on your radar – -Cliffs Natural Resources (formerly Cleveland Cliffs) and Alliant Techsystems. Following are the particulars
Cliffs Natural Resources [CLF
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- Traded over 21,000 calls.
- This stock was over $120 last year and now it’s trading around $17.
- Volatility spiked.
“Speculation is floating around that Nucor [NUE
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Alliant Techsystems [ATK
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- Pop in volatility.
- 22 times normal volume in options contracts traded with April-70 calls being most active.
- The stock is $55 under it’s 52-week high.
“Raytheon [RTN
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] is the name being thrown around as the potential buyer,” explains Najarian.
- Your First Move For Monday November 16th
- Web Extra: Where Will The Next Bull Come From?
- Burned by Yahoo!, Disney and More
- The Latest Picks That Paid – Friday November 13th
- Pops & Drops: Dow Chemical, Macy's...
- Chartology – Can Stocks Break Above 1100?
- Fast Action: Using Options To Play Housing Bottom
- Bold Call Of The Day – Microsoft
- Hold 'Em Or Fold 'Em
- Off The Record w/ Charlie Gasparino: Bank of America
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Trader disclosure: On Mar. 31st, 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 (GS), (SDS), (AAPL), (POT), (MOS), (SDS); Macke Is Short (BRK.s); Adami Owns (AGU), (C), (GS), (INTC), (MSFT), (NUE), (BTU); Seymour Owns (AAPL), (BAC), (FXI), (FCX), (TSO), (EEM), (TTM), (WBD); Najarian Owns (AAPL) Call Spread; Najarian Owns (BNI) Call Spread; Najarian Owns (HUM) Call Spread; Najarian Owns (MS) Call Spread; Najarian Owns (NTRS) Call Spread; Najarian Owns (PALM) & (PALM) Calls; Najarian Owns (POT) Call Spread; Najarian Owns (XHB) Call Spread; Najarian Owns (RIO) Calls; Najarian Owns (VCLK) Calls
J. Najarian Owns (AEO), (HOTT), (LULU)
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