Najarian Brothers Analyze Market Drop

Investitute co-founders Jon and Pete Najarian analyzed today’s market selloff and potential opportunities on a special edition of CNBC’s “Mad Money” with Jim Cramer this evening at U.S. Bank Stadium in Minneapolis, site of the Super Bowl LII.

Hosting a panel that also included “Halftime Report” host Scott Wapner, Cramer raised the subject of option trading. Pete Najarian cited large put roll in the SPDR S&P 500 Fund that he mentioned Tuesday on CNBC’s “Closing Bell,” which may have been an indication that a large player was preparing for a possible decline.

That position was followed the next day by two huge March and April call purchases in the CBOE Volatility Index. Those trades in the VIX telegraphed concerns of a market drop, as that index moves inversely to the S&P 500.

As for possible buying opportunities if the market rebounds, Jon Najarian said Clorox would be one name to consider because its products would be in demand regardless of what happens in the financial world. Pete Najarian said he is still bullish on Apple.