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Benzinga
Benzinga
World
Adam Eckert

Pete Najarian Books Profit On Alibaba Trade, But He's Still Holding These Names With China Exposure

Market Rebellion co-founder Pete Najaraian bought short-term Alibaba Group Holding Ltd (NYSE:BABA) call options earlier this week. He sold those calls following a surge in Alibaba's stock price.

"Those options went from $2 to $9," Najarian said Thursday on CNBC's "Fast Money Halftime Report."

When gains grow that large, he's disciplined enough to take profits, he said. 

Yet Najarian still has exposure to China via call options in KraneShares CSI China Internet ETF (NYSE:KWEB) and IShares China Large-Cap ETF (NYSE:FXI). 

"Most of the time I avoid the ETFs when I'm looking at options and the reason I say that is they don't give you the same bang for your buck," Najarian said.

He jumped in those calls after noticing unusual call buying volume in the ETFs, he said. 

"I'm still holding on those ETFs," Najarian said. "They take longer to move. They're not giving the kind of moves that I want, especially now today on the pullback."

See Also: If Starbucks Gets 'Anywhere Close To $80' Pete Najarian Plans To Deploy This Strategy

BABA, KWEB, FXI Price Action: At publication time, Alibaba was down 5.25%, the KraneShares CSI China Internet ETF was down 7.91% and the IShares China Large-Cap ETF was down 4.1%.

Photo: courtesy of Alibaba.

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