Jon Najarian Is Watching Smithfield Foods, Inc. (SFD)
Jon Najarian, the co-founder of OptionsMonster.com, shared his thoughts on CNBC's Fast Money about today's trading session with Smithfield Foods, Inc. (NYSE: SFD) shares. He sees the company as a takeover target and after he noticed a huge volume in options trading he decided to jump in April options. He added that April options give you extra time to carry on through the weekend, and this is important because if there is a deal it will be after the next weekends or so.
Jon Najarian continued by saying that everybody has some rumor that is passed around, but when it has some guts and is backed by volume he is ready to follow that trade.
Smithfield Foods (SFD) spiked 4.01% today and closed at $19.19. It extended its gains in the after hours for additional 0.5%.
