|Big Money Turning Extremely Bullish: Najarian|
Jon Najarian’s heat seeker is at it again. And whether you’re an options pro or a regular Joe, you need to hear about the activity it's identified.
According to Najarian, big money institutional investors are starting to make massive bets that the market is sharply higher by year’s end.
In one case, “They bought the December 152 SPY [SPY 141.54 0.03 (+0.02%) ] call– that’s a lot of upside,” he says.
Essentially, that’s a bet that the S&P trades at least 1520 by the third week in December.
And the volume associated with the bet is substantial.
“60,000 of the options traded,” he adds. “That’s the equivalent of 6 million shares.”
“And that was with the SPY around 141. That’s huge. Somebody sees a lot of upside and they’re putting a significant amount of money on the table,” he says.