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Jon Najarian Spots 'Aggressive' Options Buying This Name

Thursday, 3 Nov 2011 | 1:00 PM ET

In the options market, trader Jon Najarian on Thursday said there is aggressive buying of Nov. 67.5 calls in Green Mountain Coffee Roasters, as it quickly runs to the upside.

"It's worth noting that whenever we see this kind of activity, which is an out-of-the-money call activity, even though they are expensive and it's in the front month, people think something's going to happen right away," said Najarian, co-founder of optionMONSTER.com and a "Fast Money" contributor.

Midday Pops & Drops
Fast Money trader, Jon Najarian with a look at unusual activity in Green Mountain Coffee, and the Fast Money traders take a look at today's biggest market movers.

The stock held at around the $56 level a week ago, went to $66 and then pulled back again. Now it looks good, though, Najarian said. So traders are jumping back on this trade.

Historically, Najarian said GMCR either jumps to the upside fast, or falls hard. Typically, there is no in between or gradual move in either director. Today, it's shooting to the upside.

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Trader disclosures for Nov. 3, 2011: JON NAJARIAN: Najarian is long; Najarian is long UTX; Najarian is long GMCR; Najarian is long AKAM; Najarian is long AAPL; Najarian is long IBM call spreads; Najarian is long CME; Najarian is long CBOE; Najarian is long CIGX. STEVE CORTES: Cortes is long Treasuries. Cortes is long K. Cortes is long DNKN. Cortes is short AAPL. Cortes is short DB. Cortes is short BAC. Cortes is short XRT. Cortes is short EURO. Patty Edwards is long XLK. Steve Grasso owns AA, AKS, ASTM, BA, BAC, D, KEG, LIT, MHY, PFE, S and XLU.

PATTY EDWARDS
Trutina Financial is long
Trutina Financial is long ED
Trutina Financial is long EPD
Trutina Financial is long JWN
Trutina Financial is long TGT
Trutina Financial is long ACI
Trutina Financial is long KMP
Trutina Financial is long GLD
Trutina Financial is long PGM
Trutina Financial is long INTC
Trutina Financial is long QCOM
Trutina Financial is long WFM
Trutina Financial is long SBUX
Trutina Financial is long COST
Trutina Financial is long GOOG
Trutina Financial is long AAPL
Trutina Financial is long DRC
Trutina Financial is long ACI
Trutina Financial is long VLO

STEVE GRASSO
Stuart Frankel & Co and it’s partners own (CSCO)
Stuart Frankel & Co and it’s partners own (CUBA)
Stuart Frankel & Co and it’s partners own (GERN)
Stuart Frankel & Co and it’s partners own (HPQ)
Stuart Frankel & Co and it’s partners own (HSPO)
Stuart Frankel & Co and it’s partners own MET
Stuart Frankel & Co and it’s partners own MU
Stuart Frankel & Co and it’s partners own (NYX)
Stuart Frankel & Co and it’s partners own (PFE)
Stuart Frankel & Co and it’s partners own (PRST)
Stuart Frankel & Co and it’s partners own UAL
Stuart Frankel & Co and it’s partners own XRX

CHUCK GROM
Deutsche Bank and/or its affiliate(s) has received non-investment banking related compensation from (Costco Wholesale Corp) this company within the past year
Deutsche Bank (and/or affiliates) owns 1% or more of any class of common equity securities of JC PENNEY COMPANY. JC PENNEY CO. company an Investment Banking client of Deutsche Bank.
Deutsche Bank (and/or affiliates) own 1% or more of any class of SAKS INC. common equity securities.

DARREN HOROWITZ
PD Enterprise Products Partners L.P.
Raymond James & Associates co-managed a follow-on offering of Enterprise Products Partners L.P. shares in December 2010.
Raymond James & Associates received non-securities-related compensation from Enterprise Products Partners L.P. within the past 12 months.
NGLS Targa Resources Partners L.P.
Raymond James & Associates co-managed a follow-on offering of Targa Resources Partners L.P. shares in January 2011.
Raymond James & Associates received non-securities-related compensation from Targa Resources Partners L.P. within the past 12 months.
PAA Plains All American Pipeline L.P.
Raymond James & Associates co-managed follow-on offerings of Plains All American Pipeline L.P. shares in November 2010, March 2011, and August 2011.
Raymond James & Associates received non-securities-related compensation from Plains All American Pipeline L.P. within the past 12 months.

CRAIG BERGER
FBR acts as a market maker or liquidity provider for the company's securities: QCOM.

CNBC.com with wires.

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GMCR
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