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Jon Najarian Sees Unusual Options Activity In Xilinx

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CNBC's Jon Najarian explained a trading idea in Xilinx (NASDAQ: XLNX) today.

Najarian noticed that approximately 1,500 March 41 calls in Xilinx were bought on Friday, just after the opening. He finds that to be a bullish sign and he decided to buy the stock, along with some call spreads.

Since the expiration for options is in March, Mr. Najarian will probably hold this position for a month. He explained that the stock is down 10% on the year and it looks cheap at this price level. Today's big volume is the sign of institutional buying and he is willing to follow these buyers.

Xilinx currently trades 0.81% higher at $41.47.

Posted-In: CNBC Jon NajarianCNBC Long Ideas Options Markets Media Trading Ideas

 

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