OptionMonster Jon Najarian is always looking for opportunity. And his heat seeker has just signaled a buy.Najarian tells us he’s seeing a big block of calls trading in Ultra-Petroleum . “The September 26 calls,” he says, “have been extremely active.”That’s a bet that the stock trades above $26 by the third week in September.And after the broadcast he tells us he sees every reason to follow the options action into the stock. “I do think it could push into the mid-20’s, at least,” he says.Trader Steve Grasso confirms the thesis. “Many pros are underweight energy,” he explains. If the economy is even slightly better than expected, PMs many find themselves chasing energy names such as this one.
Posted by CNBC's Lee Brodie
______________________________________________________Got something to to say? Send us an e-mail at firstname.lastname@example.org and your comment might be posted on the Rapid Recap. If you'd prefer to make a comment, but not have it published on our Web site, send those e-mails to email@example.com .Page 1 of 3 | Next Page