Technology stocks ripped higher on Monday even as the market traded sideways. The crew at CNBC's "Fast Money" reviewed all the high flying tech stocks and the heightened option activity.Technology stocks are going crazy. Pete Najarian noted that Hewlett- Packard ( HPQ) hit a 52-week high Monday and Research In Motion ( RIMM), IBM ( IBM) and VMware ( VMW) all traded higher. Stacey Gilbert of Susquehanna Financial Group prefers Google ( GOOG) and tells viewers that call options are very active on the name. Najarian agreed with Stacey and mentioned the Google December $750 calls were active on Monday.
Najarian noticed some very unusual options activity in TJX Companies ( TJX) on Monday. He saw 10,000 October $30 calls trade and also stepped-up activity in the November $30 calls. He finds it curious and wonders what is going on. Gilbert also thought the activity was very interesting. Macke predicts a big winner with TJX.
One CEO has already stepped down. Sprint Nextel ( S) CEO Gary Forsee has left the telecommunications firm. Jeff Macke expects this stock to work higher now that Forsee is gone. Gilbert suggests that this is a takeover stock and possible buyers are Chinese companies.
Happy 52-Week High Chipotle Mexican Grill ( CMG). Ole.