This Explosive Growth Name is Jon Najarian’s Third Largest Position

Market Rebellion co-founder Jon Najarian took to CNBC’s Halftime Report on Tuesday to talk about an EV name that’s been exploding to the upside.

So which one was it?

Tesla ($TSLA)

Of course, Jon was talking about Tesla. When asked what the options market was telling him he said, “They’ve bet and been right, and right, and right about this one. Just in the last ten days, they bought the $850 calls that expire this week. Then they rolled out to the $900’s in November. Then the $950’s. And now they’ve rolled up to the $1010’s that expire out in January.” Jon added, “And I’ve rolled up with them.”

Tesla’s soaring share price may have something to do with the deal they recently signed to sell 100,000 Model 3’s to Hertz Rental Car Fleet. About the deal, Jon said, “That Hertz news is unbelievable. It’s great for all the EV makers that Hertz would make that kind of commitment.”

Jon concluded that despite taking some profit through a number of call rolls, Tesla is currently his third-largest position. “Because of where the stock has gone – Not because I keep adding to it.” Jon clarified.

Last week Tesla posted a positive earnings surprise, reporting EPS of $1.86 compared to an expectation of $1.61, and revenue of $13.76 that beat street expectations of $13.70.

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