The options market is often where big institutional bets first hit and Jon Najarian has spotted some interesting action on Friday.
He tells the desk he’s seeing significant call buying in Seagate and as a result thinks shares could go higher.
At some point I'm not surprised to see the scavengers come in and say this name is worth more than scrap, adds Mike Khouw.
--------
All our traders are very accomplished but on Friday the spotlight shines on Zach Karabell of RiverTwice.
On Friday Zach made headlines - literally - in the LA Times with his review of the book Fubarnomics.
Check it out. Click here to go to the LA Times website and read Book review: 'Fubarnomics' by Robert E. Wright.
______________________________________________________
Got something to to say? Send us an e-mail at fastmoney-web@cnbc.com and your comment might be posted on the Rapid Recap. If you'd prefer to make a comment, but not have it published on our Web site, send those e-mails to fastmoney@cnbc.com.
Trader disclosure: On August 27th, 2010, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Terranova Owns (AXP), (GS), (IBM), (QCOM), (AAPL), (GOOG), (BRCM), (TER), (MSFT), (C), (MRVL), (BMO), (V), (POT), (OXY), (GLD), (SU), (FCX), (APA), (XBI); Jon Najarian owns (BAC), short calls; Jon Najarian owns (LNC), short calls; Jon Najarian owns (SNDK), short calls; Jon Najarian owns (STX), call spreads; Jon Najarian owns (X), short calls; Karabell owns (AAPL); (CSCO), (FCX), (GS), (POT), (RIMM); Boockvar owns (GLD), (SLV), (XOM), (NEM), (MOS)
For Joe Terranova
Terranova is chief market strategist of Virtus Investment Partners, LTD.
Virtus Investment Partners own more than 1% of (ABAX)
Virtus Investment Partners own more than 1% of (ALK)
Virtus Investment Partners own more than 1% of (AMKR)
Virtus Investment Partners own more than 1% of (CASS)
Virtus Investment Partners own more than 1% of (CSVI)
Virtus Investment Partners own more than 1% of (XLY)
Virtus Investment Partners own more than 1% of (XLP)
Virtus Investment Partners own more than 1% of (DRYS)
Virtus Investment Partners own more than 1% of (EXR)
Virtus Investment Partners own more than 1% of (XLI)
Virtus Investment Partners own more than 1% of (IGE)
Virtus Investment Partners own more than 1% of (LDR)
Virtus Investment Partners own more than 1% of (LPHI)
Virtus Investment Partners own more than 1% of (XLB)
Virtus Investment Partners own more than 1% of (MGRC)
Virtus Investment Partners own more than 1% of (NRCI)
Virtus Investment Partners own more than 1% of (DBV)
Virtus Investment Partners own more than 1% of (SUBK)
Virtus Investment Partners own more than 1% of (XLK)
Virtus Investment Partners own more than 1% of (XLU)
Virtus Investment Partners own more than 1% of (WDFC)
Virtus Investment Partners own more than 1% of (YDNT)
For Zach Karabell
River Twice own (CSCO)
River Twice own (GS)
River Twice own (POT)
For Mike Khouw
Cantor Fitzgerald makes a market in (AAPL)
Cantor Fitzgerald makes a market in (ADM)
Cantor Fitzgerald makes a market in (AKAM)
Cantor Fitzgerald makes a market in (AMZN)
Cantor Fitzgerald makes a market in (BAC)
Cantor Fitzgerald makes a market in (BKC)
Cantor Fitzgerald makes a market in (CHK)
Cantor Fitzgerald makes a market in (CML)
Cantor Fitzgerald makes a market in (CSCO)
Cantor Fitzgerald makes a market in (CVLT)
Cantor Fitzgerald makes a market in (DELL)
Cantor Fitzgerald makes a market in (FCX)
Cantor Fitzgerald makes a market in (GS)
Cantor Fitzgerald makes a market in (INTC)
Cantor Fitzgerald makes a market in (ISLN)
Cantor Fitzgerald makes a market in (JOYG)
Cantor Fitzgerald makes a market in (KBH)
Cantor Fitzgerald makes a market in (LEN)
Cantor Fitzgerald makes a market in (LNC)
Cantor Fitzgerald makes a market in (MSFT)
Cantor Fitzgerald makes a market in (NEM)
Cantor Fitzgerald makes a market in (NZ)
Cantor Fitzgerald makes a market in (PAR)
Cantor Fitzgerald makes a market in (POT)
Cantor Fitzgerald makes a market in (RIMM)|
Cantor Fitzgerald makes a market in (SCHW)
Cantor Fitzgerald makes a market in (SLV)
Cantor Fitzgerald makes a market in (SNDK)
Cantor Fitzgerald makes a market in (STX)
For Colin Gillis
***No Disclosures***
For Michael Block
***No Disclosures***
CNBC.com with wires.
