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Pete Najarian Thinks That Regional Banks ETF KRE Is Going Up
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Posted on 11/17/09 at 6:59pm by Craig Jones
CNBC's Pete Najarian thinks that it is inexpensive to bet that regional banks stocks are going higher. Pete Najarian made that call as he spotted that December 22.5 call options in SPDR KBW Regional Banking (ETF) (NYSE: KRE) were extremely active today.
On the other hand, fundamentals are suggesting that regional banks are facing a sharp move lower.
SPDR KBW Regional Banking (ETF) (KRE) gained 1.78% today on a volume of $4.75M. It closed at $21.12.
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