(Chicago, IL and Englewood Cliffs, NJ) May 16, 2008 – CNBC, First in Business Worldwide, today announced that Jon ('DRJ') Najarian, co-founder of optionMONSTER, a leading news and market intelligence site for options traders, has joined CNBC as a contributor.
"When we select contributors, we look for a certain level of expertise, insight and a successful track record in their industry," said Susan Krakower, Vice President of Strategic Programming and Development, CNBC. "With the changes happening in the securities and options industry, Jon's knowledge and outstanding career make him a great and strategic addition to the CNBC team."
Najarian will regularly appear on CNBC's Business Day programming, including "Fast Money," providing unique, in-depth analysis of the day's market activity from his vantage as an options trader.
A professional trader, noted media analyst and speaker, Najarian launched his financial career at the Chicago Board Options Exchange (CBOE) in 1981, trading in the pits for some 27 years. In 1989, he founded Mercury Trading, an options market making firm, running the company for 15 years until 2004, when he sold his floor-trading operations to Citadel, one of the world's largest hedge funds.
More recently, Najarian – often known simply by his CBOE floor call letters 'DRJ' – has developed and patented trading applications used to identify unusual activity in stock, options, and futures markets. The Heat Seeker® program uncovers extraordinary buying patterns from among the 180,000 quotes per second that stream from America's stock, options, and futures exchanges, while their Depth ChargeTM program tracks unusual selling patterns.
By combination of high-tech research and floor-trading savvy, Najarian's views have been widely cited by leading financial media, and will now be a regular part of CNBC programming.
"Timely information and seasoned perspective is vital for traders. optionMONSTER is thrilled that our co-founder, Jon Najarian, is joining CNBC, with its sterling reputation for quality and integrity in business journalism," said Dirk Mueller, co-founder and CEO of optionMONSTER.
In signing on with CNBC, Jon joins younger brother Pete, one of the "Fast Money" traders on CNBC's "Fast Money," which broadcasts weekdays at 5PM ET and re-broadcasts at 8PM ET on CNBC.
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