Trading Insights
Giddy Up! Riding the Momentum With Pete’s Plays
Pete Najarian was on CNBC’s Halftime Report to talk about the action in $MSFT, $FB, $TSLA, $HLT, $AAPL, and $IGT. Pete sold calls in $FB and $MSFT, citing the need to stay disciplined during a steep run-up.
Pete Najarian was on CNBC’s Halftime Report to talk about the action in $MSFT, $FB, $TSLA, $HLT, $AAPL, and $IGT.
Pete sold calls in $FB and $MSFT, citing the need to stay disciplined during a steep run-up.
Pete added to his $TSLA call position.
“The momentum rolls on, Pete. Another new high today. Up 45% in a month. And you bought more calls. Are you just gonna keep riding the momentum all the way up?”
“I am. I’m gonna continue to roll with them, Scott.”
Pete went on to mention the swell of unusual option activity, decreasing implied volatility, and the velocity of $TSLA’s move to the upside.
Pete noted additional unusual options activity in $AAPL, $IGT and $HLT.
| $TSLA | $HLT | $AAPL | $IGT | $IGT | |
|---|---|---|---|---|---|
| Share price at purchase | $1,138.00 | $143.75 | $148.75 | $31.50 | $30.77 |
| Strike price and type | $1200 call | $150 call | $152.50 call | $33/$42 call spread | $38 call |
| Expiration date | 11/05/21 | 4/14/22 | 11/05/21 | 1/21/22 | 11/19/21 |
| Quantity purchased | 35,000 | 8,100 | 50,000 | 10,000 | 9,802 |
| Open interest | 15,311 | 201 | 32,842 | 110 | 13 |
| Cost per contract | $12.25 to $23.95 | $8.70 to $9.10 | $0.29 to $0.54 | $2.05 ($33 Call: -$2.60, $42 Call: +$0.55) |
$0.25 |
| Total estimated trade cost | $63,350,000 | $7,209,000 | $2,075,000 | $2,050,000 | $245,050 |