×

No. 2 - Slow Holiday Week Trade

Even though most of Wall Street is headed out of town, there could be an active holiday cycle as deal making remains strong, a jobs report comes out Friday, and the Dow is within range of a new record.

Pete Najarian says Hilton (HLT), judging by its options trading, could be seen as a takeover target. Today it traded about 10x its normal options activity.

Jeff Macke doesn’t think Hilton is a candidate at $40 per share because the premium is too low.

Pete also points out heavy options volume in Immersion (IMMR), a touch screen technology company that has a contract with Apple (AAPL) and just teamed up with Nokia (NOK). He thinks Immersion “might not be public at some point.”

Eric Bolling recalls an old Wall Street adage: “Never trade a quiet market and never short a quiet market.” Shorts tend to get squeezed on quiet market days, he says, so unless you’re willing to roll the dice it might be better to take a breather this week.

______________________________________________________
Got something to say? Send us an e-mail at fastmoney-web@cnbc.com and your comment might be posted on the Rapid Recap! Prefer to keep it between us? You can still send questions and comments to fastmoney@cnbc.com.

Trader disclosure: On July 3rd 2007, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders Macke Owns (DIS); Najarian Owns (DNDN), (ERIC), (HLT), (JNPR (CBH), (IMMR); Najarian Closed Out Of (BIDU) Today; Bolling Owns (DIS), (T), (XOM), Natural Gas, Corn