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‘There is not any fear now’ in market: Pro

VIDEO3:0003:00
'There is not any fear now' in market: Pro

Investors are showing little worry that the U.S. will default on its debt, OptionMonster's Jon Najarian said Wednesday.

"The repo market is absolutely telling you that a week ago there was fear," he said. "There is not any fear now, and, in fact, we're going to be cruising along into the afternoon."

On CNBC's "Fast Money," Najarian also noted that the CBOE Volatility Index, widely considered the best gauge of fear in the market, climbing to the 18 level a day earlier might have been misconstrued.

"The October VIX expired on the opening," he said, noting that the volatility index had headed toward the 15 level over Wednesday morning's trading.