Why Pete Najarian Just Bought Call Options In Bank Of America

Market Rebellion co-founder Pete Najarian just doubled down on Bank of America Corp BAC.

Najarian already owned the stock, but said Friday on CNBC's "Fast Money Halftime Report" that he bought upside call options.

There is still a lot of "incredible upside" in the financials, although the stocks in the sector have traded significantly higher so far this year.

"I think these financials have so much more room to the upside and they've been on a great run," Najarian said.

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Bank of America is up more than 40% year-to-date. Najarian told CNBC he's really impressed with the performance of the financial stocks this year.

BAC Price Action: Bank of America has traded as high as $43.49 and as low as $22.95 over a 52-week period.

The stock was up 1% at $42.45 at the time of publication.

Photo: Mike Mozart from Flickr.