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Pete Najarian Spies Unusual Activity in Tech

Friday, 28 Oct 2011 | 1:31 PM ET
Trading AMD After Surprisingly Good Earnings
AMD reported better than expected quarterly earnings, but one analyst reiteraties its sell rating on the stock, with Dan Berenbaum, MKM Partners executive director. Also, discussing how to trade the globe as Baidu posts an 80% surge in profits, with the Fast Money Halftime Traders.

Using proprietary heat seeker software Pete Najarian is always looking for unusual options action.

And on Friday, activity in the chip space caught his attention.

Looking at the weekly options in SanDisk , Najarian has spotted a lot of action in the Nov 55 and Nov. 57.50 calls.

Considering the weekly options expire next week, the activity suggests to him institutional investors think the stock could make a sharp move higher in a short period of time.



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On Oct 28, 2011, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s "Fast Money" were owned by the "Fast Money" traders; P. Najarian is long AAPL; P. Najarian is long C; P. Najarian has long WFC calls; P. Najarian is long MS; P. Najarian is long INTC; P. Najarian is long MSFT; P. Najarian is long YHOO; P. Najarian is long MRK; J. Najarian is long short calls in BAC; J. Najarian is long short calls in PNC; J. Najarian is long short calls in GS; J. Najarian is long short calls in MS; J. Najarian is long short calls in IBM; J. Najarian is long short calls in YHOO; J. Najarian is long short calls in BIDU; J. Najarian is long short calls in WYNN; J. Najarian is long short calls in FSLR; J. Najarian is long CBOE; J. Najarian is long CME; J. Najarian is long CIGX; Edwards is long XLK; Grasso owns AA; Grasso owns AKS; Grasso owns ASTM; Grasso owns BA; Grasso owns BAC; Grasso owns D; Grasso owns KEG; Grasso owns LIT; Grasso owns MHY; Grasso owns PFE; Grasso owns S; Grasso owns XLU; Doolittle is long SSO; Doolittle is short SDS

For Patty Edwards
Trutina Financial is long WLT
Trutina Financial is long GLD
Trutina Financial is long LEG
Trutina Financial is long HLF
Trutina Financial is long ED
Trutina Financial is long AAPL
Trutina Financial is long QCOM

For Steve Grasso
Stuart Frankel & Co and its partners own (CSCO)
Stuart Frankel & Co and its partners own (CUBA)
Stuart Frankel & Co and its partners own (GERN)
Stuart Frankel & Co and its partners own (HPQ)
Stuart Frankel & Co and its partners own (HSPO)
Stuart Frankel & Co and its partners own JPM
Stuart Frankel & Co and its partners own MET
Stuart Frankel & Co and its partners own MSFT
Stuart Frankel & Co and its partners own MU
Stuart Frankel & Co and its partners own (NYX)
Stuart Frankel & Co and its partners own (PFE)
Stuart Frankel & Co and its partners own (PRST)
Stuart Frankel & Co and its partners own UAL
Stuart Frankel & Co and its partners own XRX

For Tim Seymour
No disclosures

For Larry McDonald
No disclosures

For Ron Insana
No disclosures

For Camilla Sutton
No disclosures

For Dan Berenbaum
No disclosures



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