Pete Najarian is seeing highly unusual options activity in EMC Corp.. Call options traded 17 times normal volume and that almost never happens. How should you trade?
The action in EMC is just unbelievable, explains Dylan Ratigan. There’s been an explosive move into calls -- calls that will be worthless on the third Friday in August. That’s deep and aggressive speculation.
The buyers are institutional size buyers, adds Pete Najarian. There were massive orders coming in.
I think there’s something going on, Najarian adds. Someone believes the price will be heading north sometime soon!
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Trader disclosure: On July 30, 2008, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Najarian Owns (AAPL), (TSO); Najarian Owns (CSCO) Calls, (EMC) Calls, (XLY) Calls, (SU) Calls; Macke Owns (WMT), (MSFT), (COST), (ATVID), (DIS), (EMC); Adami Owns (C), (GS), (INTC), (NUE), (AGU), (MSFT), (BTU); Finerman Owns (GS); Finerman's Firm And Finerman Own (C) Leaps; Finerman's Firm Owns (FLS), (MO), (NOK), (PM), (RAI), (SUN), (TSO), (VLO), (RIG), (MCC); Finerman's Firm Is Short (SPG), (KIM), (XLF), (BBT), (IYR), (IWM), (MDY), (SPY), (IJR)
