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Minyan Mailbag: Jon Najarian


Thx Dr. J!


Note: Our goal in Minyanville is to remove intimidation from the financial markets and encourage an interactive dialogue among the Minyanship. We share this next article, written by Minyan Jon Najarian, with that very intent.

For more of Jon's work, click here.

  • The asbestos trust debate rages, but USG Corp (USG) traders are optimistic about some sort of compromise, as the stock trades up nearly $3 and the now in-the-money May 35 calls are up 123% to $2.10 as bulls chow down on 6,600 of that strike. Even the May 40 calls are much more active than usual, with 4,400 of those calls trading and gaining 528% on the session, trading up $1.85 to $2.20

  • Advanced Micro (AMD) is rumored by CNET to launch its Opteron dual processing chips several months ahead of schedule and the buzz in the tech community and on the Street is very positive. Shares traded as high as $17.38 this morning, a 6% gain and I show EXTREMELY HEAVY action in the April 17 calls with 30,000 trading against an open interest of that same amount. Those April 17 calls are up 225% on the session, moving up from $.20 to $.65. Overall volume is also above normal, with 75,000 calls trading vs. just 33,000 puts.

  • The small cap world has been strange indeed this week, as the major indexes moved higher for 5 straight sessions, the Russell 2000 has been undecided as to the direction it will take. I show the Russell index options (IWM) retracing their move from $122 to $124 earlier in the week and losing about 1% today. This session I show just 2,600 calls against 26,000 puts, a very bearish ratio.

  • Time Warner (TWX) gains nearly 2% today and its options jumped up onto my active screens with 37,000 calls trading against just 2,100 puts and the dollar weighted numbers are stupidly high on the call side of trading, an indication that traders think the TWX / Comcast bid for Adelphia is a positive for both companies.

  • Sears Holdings (SHLD) trades up to nearly $144 today, as 12,000 calls to 4,000 puts, but my dollar weighted index shows an even more bullish 10:1 ratio in favor of the bulls.
No positions in stocks mentioned.

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