The quality names are exploding through all-time highs and Starbucks Corp (NASDAQ:SBUX) is one of those, Market Rebellion co-founder Pete Najarian said Tuesday on CNBC’s “Fast Money Halftime Report.”
Starbucks stock made a new all-time high in trading Tuesday.
The Trader’s Perspective: Najarian said every time he goes to Starbucks for a coffee, there is a line of cars around the building. Beyond hot coffee, the company is having success with its cold drink products, he added.
Najaraian told CNBC that he saw an unusual call buying in Starbucks and he bought in right away. He owns the July expiration $119 strike calls, he noted.
Related Link: Why Starbucks Shares Look Set For Blue Skies
SBUX Price Action: Starbucks is up 64.49% over a 52-week period. It is up 11.82% year-to-date.
At last check Tuesday, the stock was up 0.94% at $119.57.
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