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CNBC U.S. Contributors

Pete Najarian

Pete Najarian
Co-Founder, Investitute.com

Pete Najarian, the "Pit Boss," was ranked one of the top 100 traders by Trader Monthly magazine.

Together with his brother, Jon "DR.J" Najarian, he is a founding member of Investitute.com, a financial education and newsletter services company, as well as best-selling author of both "How We Trade Options" and "The 22 Rules of Investing."

Najarian invests in and works with start-ups via Rebellion Partners, where he is a founding member.

Following a football career that included several seasons with the NFL's Tampa Bay Buccaneers and Minnesota Vikings, Najarian took up options trading in 1992 joining his brother, Jon "DRJ" Najarian, at Mercury Trading, a market-making firm at the Chicago Board Options Exchange (CBOE). Two years later, he assumed responsibility for Mercury's risk and arbitrage and later led its entry onto the New York Stock Exchange (NYSE).

He also led Mercury's joint venture with M.J. Meehan, the third-largest specialist firm on the NYSE. From 2000 to 2004, Najarian served as president of Mercury, and helped execute its sale to Citadel, one of the world's largest hedge funds. During this period, Najarian chaired the Exemption Committee of the CBOE for three years and served as a floor official for eight terms.

Najarian has been a founding member of One Chicago, an electronic exchange committed to becoming the global leader in futures on individual stocks, narrow-based indexes, and ETFs. He is also the Co-Founder of Hedgehog stock, options, and futures trading platform and together with brother Jon, co-developed the Heat Seeker™ and complementary programs identifying unusual buying activity in stocks, options, and futures. Najarian is one of the "Fast Money Five" on CNBC's Fast Money, and also contributes to CBOE-TV, the exchange's popular webcast.

In 2005, Najarian co-founded,together with his brother Jon, optionMONSTER, an options news and education firm, and tradeMONSTER, a leading online brokerage firm, that for years has been rated "Best for Options Traders" by Barron's and was the first online broker to deploy streaming, desktop-like trading in a web browser.

Najarian graduated with a BA from the University of Minnesota.

What does Pete Najarian do when he's not investing? Here's a look in our Halftime Report "Trade Off."

Follow Pete Najarian on Twitter @petenajarian.

More

  • Frontier Oil is seeing some interesting options activity after recently receiving some votes of confidence from analysts. The largest volume in FTO options began in the March calls this morning, but activity was quickly building in the April 17.50 calls trading for $0.35 and $0.40.

  • The IBB biotech ETF is drawing strong options activity Thursday, as news ranging from mergers to government regulation continues to rock the sector.

  • A large trader has stepped in to buy calls in Capital One Financial Wednesday. About 10,000 upside calls were bought at the April 12.50 strike for $1.35 and $1.40, in a span of about two minutes this morning.

  • One large options trader is buying calls in Waters Corporation, which manufactures and sells lab equipment for chemical analysis. WAT's options volume for the last month averages 552 contracts a day, but yesterday (Tuesday) more than 4,000 of the March 40 calls alone were bought by mid-afternoon...

  • General Dynamics is drawing call activity as Wall Street analysts appear conflicted over the outlook for GD and other defense contractors. Options traders are playing a May 40-45 call spread that is looking for General Dynamics to bounce after dropping more than 30 percent in the last quarter.

  • The economic crisis has been steadily pounding Harley-Davidson's shares lower by the day, and now traders are aggressively buying puts as well.

  • Traders are aggressively buying calls in Omnicare ahead of its earnings report Thursday morning.

  • Mining company Yamana Gold is down Tuesday along with the price of gold itself — but is still seeing some heavy call trading.

  • U.S. Steel is seeing aggressive put buying on heavy volume Monday, as the stock closes in on its 52-week low. X stock is down more than 11 percent to just over $22 and nearing its November low of just under $21.

  • Traders are buying large blocks of puts in Applied Materials as the company's stock continues to slide, after it reported weak earnings early last week.