Pete Najarian tells a story about Warren Buffett

This week Pete Najarian tells a story about the famous faces hiding behind some of these Unusual Options Purchases

As people who monitor unusual options activity for a living, sometimes we see a purchase that’s so out of the ordinary, we just say, “Huh?”

This week, it was a set of recurring purchases in the poster-child for all fast-moving growth stocks, Tesla. 

Two weeks ago, when someone spent over $51 million dollars on $900 strike Tesla weekly calls (not to mention an additional $7 million on more out of the money Tesla weekly’s), it raised our eyebrows.

Fast forward to the following Monday. Our Heat SeekerⓇ indicated that the same buyer spent over $16 million dollars yet again on the same $900 strike weekly expiration Tesla calls, which were far out-of-the-money at the time. 

It just makes you wonder, “Who’s buying these calls?!” And sometimes, the answer can be surprising. 

In this week’s clip, Market Rebellion Co-Founder Pete Najarian relates this set of repeat Tesla purchases to a period where somebody was repeatedly buying massive amounts of calls in the railroads and selling an equally large amount of puts. 

Pete and the rest of the Rebels wondered, “Who is this railroad high-roller?”… That is, until the buyer revealed himself to be none other than legendary investor Warren Buffett.

Check out the clip below and hear the story from Pete himself!