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
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