Video: Why Benzinga's Founder Bought Call Options In Penn National Gaming

On the "Power Hour" show Tuesday afternoon, Benzinga Founder and CEO Jason Raznick took a new position in Penn National Gaming Inc PENN live on air.

Options Trading: Raznick said he bought call options in Penn National Gaming. When the stock was trading around $100, he was buying the June 18 expiration $110 strike calls.

Check out Raznick's trade in the video below:

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There was speculation the stock sold off Tuesday because of a sex tape that was leaked of Barstool's Dave Portnoy, although Raznick pointed out that "this is not new news."

See Also: Dave Portnoy Brushes Off Sex Tape Leak That Causes Penn Stock Dip: 'Are You Kidding Me?'

PENN Price Action: Penn National Gaming closed down 2.5% to $104.09.