The ETF doubles the daily performance of the S&P 500 VIX Short-Term Futures Index. The volatility trade vaulted the trader into first place in CNBC PRO's trading competition. Najarian's portfolio is up 14 percent year to date.
In the other model portfolio moves, Joe Terranova sold his BlackRock and NXP Semiconductors positions. Stephanie Link sold half her Bank of America and put the proceeds into Caterpillar and Baker Hughes.
Find out below why Najarian made the move and what he thinks of the prospects for volatility trade.