Pete Najarian: Bringing Back The Trading Floor

Pete Najarian spent years trading on the floor of the Chicago Board Options Exchange alongside his brother Jon. But they’re not the only Market Rebels who earned their stripes on the trading floor. Chief Options Strategist Ryan Mastro, analysts Wayne Razzi and Greg McDermott once worked alongside one another on the trading floor of the Philadelphia Stock Exchange, long before finding their home at Market Rebellion. But why was trading on the floor so empowering?

“Sometimes you could even catch that momentum from the sound.”

The trading pits of the stock exchange were ground zero for market momentum. In the clip below, Pete Najarian talks about what it was like to trade momentum in the pit, and it’s an important part of why Pete and his fellow Rebels are bringing back the trading floor.

“The reality was, you could see all the trading, and the flows, and you could get that momentum. Sometimes you could even catch that momentum from the sound. There were a lot of traders standing on the trading floor. And you could hear it on the other side of the building. You’d say, ‘you know what, I wonder what’s trading over there?’ and there were guys — we used to call them floaters — that would float on over and get into those pits.”

Despite the benefits of trading in a fast-paced environment amongst the market’s highest rollers… the days of being able to literally see and hear market momentum are long gone with the days of open outcry. 

Introducing: The Rebel Pit

The Rebel Pit is Market Rebellion’s brand new live trading floor, where veteran analysts Ryan Mastro, Greg McDermott, and Wayne Razzi will craft momentum-based trade ideas in real-time, while chatting live with our community. 

Inside The Rebel Pit, you have the opportunity to trade alongside an expert team and interact with our passionate band of Rebel traders. More than just trade ideas, it’s the live-access to a network of traders that makes The Rebel Pit such an exciting environment.

Let’s face it, even the most diligent traders get distracted. Or get too honed in on a particular sector to see the broader picture. That’s why it’s crucial to have a community of traders that you can trust and rely on in order to see through the fog. 

“Success works best when it’s shared”

Even the best traders rely on others to help them remain successful. Here’s Pete talking about how heavily he relies on his network to keep him up to date on the twists and turns of the market. 

“That networking that you bring up is huge. There’s people to this day that I probably talk to maybe 8 or 10 times per day. It helps me get an understanding of, ‘What are you seeing?’ 

And all of a sudden, we’ll start to find out that we’re seeing things in different places that a lot of people aren’t talking about. […] A great example of that is some of the different sectors that you might find momentum in.”

Obviously, Pete Najarian is a busy man, and networking is a big part of how he tracks the day-to-day market mayhem. But networking isn’t just important for Pete, it’s a staple for all of our analysts. In the clip below, Rebel Pit analyst Greg McDermott talks about his connection with fellow Pit leaders Wayne Razzi and Ryan Mastro about how they use each other’s eyes to stay keen on every corner of the market.

“The idea that you and Wayne and I have been together, been friends for so long — it’s three different ways of looking at kind of the same thing. Sometimes you get so used to staring at something, you can’t see the forest through the trees.”

By keeping a finger on the pulse of their trading network, Pete and our analyst team are able to find the sectors with the highest potential for massive, momentum-driven moves, time and time again.

“It’s called momentum for a reason — You better be disciplined.”

Just as important as a strong community is a strong sense of discipline. That’s what allows Pete Najarian and our Rebel analysts to stay in these moves, riding the momentum through all of the ups and downs. 

“All that being said, you’d better be disciplined! The whole group of us here at the Rebellion, we talk about it, we preach about it, it’s very important. That momentum’s great but that doesn’t mean that it lasts forever — you know it’s called momentum for a reason. 

You’ll get some runs, but you always have to remember to have that discipline. That doesn’t mean you’re getting out, but maybe it means you’re rolling up, taking some money off the table.”

Pete goes on to outline exactly what he means by rolling. 

“One thing that people don’t see when they look at my disclosures on CNBC: I may have been in the one-week expiring Facebook calls, but I’ve been rolling up and up with it for a matter of a month or two. Now, nobody really pays attention, but it’s a different position. I take something off, I put something else on. 

You know, we always say, if it doubles then take off half. That’s the kind of trading that I think really does keep a trader around, and to be there for the next move.”

The bottom line

These are the concepts that we drive home in our brand new trading environment, The Rebel Pit. Trade ideas crafted in real-time by expert analysts. Access to a vast network of Rebel traders. And a disciplined trading style to help lock-in profits, and capitalize on every trade.

If you’re ready to trade inside The Pit with our experts, there has never been a better time than now. To join our community and start chasing momentum with the Rebellion, click here.