GO
Loading...

Halftime—Jon Najarian: Strong Activity In This Tech Name

Wednesday, 12 Jan 2011 | 1:44 PM ET

In the options market, Micron Technology saw "unusual activity" on Wednesday, reports Jon Najarian.

Micron , the top U.S. maker of memory chips for computers, saw 75,000 calls versus 25,000 puts change hands by midday trading, noted Najarian, co-founder of optionMONSTER.com. Specifically, the Feb. 9 and Feb. 10 calls were "very active." This options activity tells Najarian traders expect MU to move to the upside.

The activity isn't enough to get Veracruz founder Steve Cortes into this name, though. Cortes prefers Cypress Semiconductor and Xilnix . As demand for memory chips grows, he would also avoid Intel "at all costs."

Patty Edwards, chief financial officer at Trutina Financial, wouldn't get involved in any of these names just yet.

---
FAST MONEY 360: JP MORGAN

JPMorgan Chase could pay an annual dividend of 75 cents to a dollar once the Federal Reserve completes stress tests of the largest U.S. banks and gives its approval, CEO Jamie Dimon said on Tuesday. Is the potential dividend reason enough to own the stock, though?

Focus on Financials
The "Fast Money" traders weigh in on financials.

Seems like a good time for "Fast Money 360."

Find out what fundamentals, technicals and insights from the options world all suggest about what lies ahead for this stock . "Fast Money" sought commentary from three notable market pros, including banking analyst Meredith Whitney, Carter Worth, chief market technician at Oppenheimer and Scott Nations, president and chief investment officer at NationsShares.

For their take on JPM, check back soon for the video.

----
CALL THE CLOSE

As Wednesday's "Fast Money Halftime Report" came to a close, the traders disclosed where they see the market going and how they're trading it.

Both Kelly and Edwards said they're buyers of the market, so long as the S&P 500 continues to trade above the 1,280 level.

Cortes recommends buying gold right now.

Najarian said financials could continue to push the markets higher.

______________________________________________________
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 Jan. 12, 2011, following stocks and commodities mentioned or intended to be mentioned on CNBC’s "Fast Money" were owned by the "Fast Money" traders; Jon Najarian owns (C), is short (C) calls; Jon Najarian owns (JOE), is short (JOE) calls; Jon Najarian owns (NFLX), is short (NFLX) calls; Jon Najarian owns (BBY), is short (BBY) calls; Jon Najarian owns (BP), is short (BP) calls; Jon Najarian owns (CHK), is short (CHK) calls; Jon Najarian owns (PBR), is short (PBR) calls; Jon Najarian owns (GM), is short (GM) calls; Jon Najarian owns (F), is short (F) calls; Jon Najarian owns (AXP), is short (AXP) calls; Jon Najarian owns (AAPL), is short (AAPL) calls; Jon Najarian owns (QCOM), is short (QCOM) calls; Jon Najarian owns (STI), is short (STI) calls; Jon Najarian owns (ARUN), is short (ARUN) calls; Jon Najarian owns (EXPE), is short (EXPE) calls; Cortes is short (LVS); Cortes is short (XRT) vs. S&P; Cortes is short (XHB) vs. S&P; Cortes owns (EXC); Cortes owns (TSN); Cortes owns (SVU); Cortes is short Gold; Cortes owns U.S. Treasuries

For Brian Kelly
Accounts Managed By Kanundrum Capital Own (TBT)
Accounts Managed By Kanundrum Capital Own USD
Accounts Managed By Kanundrum Capital Own (XLE)
Accounts Managed By Kanundrum Capital Own (ANDE)
Accounts Managed By Kanundrum Capital Own (DE) call spreads
Accounts Managed By Kanundrum Capital Own (GLD)
Accounts Managed By Kanundrum Capital Own (IPI)
Accounts Managed By Kanundrum Capital Own (JJG)
Accounts Managed By Kanundrum Capital Own (JJC) calls
Accounts Managed By Kanundrum Capital Own (MON)
Accounts Managed By Kanundrum Capital Are Short
Accounts Managed By Kanundrum Capital Are Short
Accounts Managed by Kanundrum Capital Are Short The Euro
Accounts Managed by Kanundrum Capital Are Short The Yen

For Patty Edwards
Edwards owns (SPY) for clients
Edwards owns (XLB) for clients
Edwards owns (GLD) for clients
Edwards owns (SLV) for clients
Edwards owns (AMZN) for clients
Edwards owns (F) for clients
Edwards owns (GM) for clients
Edwards owns (TTM) for clients
Edwards owns (V) for clients
Edwards owns (MA) for clients
Edwards owns (JNJ) for clients
Edwards owns (AAPL) for clients
Edwards owns (VZ) for clients
Edwards owns (MSFT) for clients
Edwards owns (RIMM) for clients
Edwards owns (GS) for clients
Edwards owns (C) for clients
Edwards owns (BMO) for clients
Edwards owns (BCS) for clients
Edwards owns (FXI) for clients
Edwards owns (SYT) for clients
Edwards owns (POT) for clients

For Vincent Andrews
As of December 31, 2010, Morgan Stanley beneficially owned 1% or more of a class of common equity securities of(CF), (IPI), (MON)
Within the last 12 months, Morgan Stanley managed or co-managed a public offering of securities of (CF), (POT)
Within the last 12 months, Morgan Stanley has received compensation for investment banking services from (CF), (IPI), (MON), (MOS), (POT)
In the next 3 months, Morgan Stanley expects to receive or intends to seek compensation for investment banking services from (AGU), (CF), (IPI), (MON), (MOS), (POT).
Within the last 12 months, Morgan Stanley has received compensation for non-investment banking services from (AGU), (MON).
Within the last 12 months, Morgan Stanley has provided or is providing investment banking services to, or has an investment banking client relationship with, the following company: (AGU), (CF), (IPI), (MON), (MOS), (POT)
Within the last 12 months, Morgan Stanley has either provided or is providing non-investment banking, securities-related services to and/or in the past has entered into an agreement to provide services or has a client relationship with the following company: (AGU), (CF), (IPI), (MON), (POT)
Morgan Stanley & Co. Incorporated makes a market in the securities of (AGU), (CF), (IPI), (MON), (MOS), (POT)

GE is the parent company of CNBC
NBC Universal is the parent company of CNBC

CNBC.com with wires.

  Price   Change %Change
CY
---
INTC
---
JPM MLP ETN
---
MU
---
SPDR FIN SEL
---
XLNX
---

Contact Halftime Report

  • Showtimes

    Halftime Report - Weekdays 12p ET
    Fast Money - Weekdays 5p ET
  • Scott Wapner is host of the "Fast Money Halftime Report," which airs weekdays from 12 p.m. to 1 p.m. ET.