Pete Najarian, the "Pit Boss," was ranked one of the top 100 traders by Trader Monthly magazine and in 2005 co-founded, together with his brother Jon, optionMONSTER, an options news and education firm, and tradeMONSTER, a leading online brokerage firm. Both were acquired in 2014 by private equity firm General Atlantic Partners.
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.
Before starting optionMONSTER, he 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 2016 Pete and his brother Jon co-founded Najarian Family Office, a private wealth management firm, as well as Najarian Advisors, a company advising institutional investors on options strategies.
The brothers invest in and work with start-ups via Rebellion Partners, a venture consulting firm they launched in 2015.
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.
The "FMHR" traders with John Spallanzani, GFI Group, Paul Richards, Medley Global Advisors, and CNBC's Steve Liesman discuss the great week for stocks, whether we're head toward all-time highs, and what the market is doing to get ready for a possible rate hike.
The "FMHR" traders and John Spallanzani, GFI Group, discuss positioning in airline stocks.
The "FMHR" traders with John Spallanzani, GFI Group, discuss the fast food sector and which stocks are looking ripe for the picking.