“When I see a big blow-up in volatility I use that to buy,” explains Jon Najarian. “If I can step in and buy a MetLife [MET], AK Steel [AKS] or MGM Mirage [MGM] at such depressed levels I buy and then sell a call against them which takes them through multi-year lows in terms of the protection that offers.”

“When I see a big blow-up in volatility I use that to buy,” explains Jon Najarian. “If I can step in and buy a MetLife [MET], AK Steel [AKS] or MGM Mirage [MGM] at such depressed levels I buy and then sell a call against them which takes them through multi-year lows in terms of the protection that offers.”

“When I see a big blow-up in volatility I use that to buy,” explains Jon Najarian. “If I can step in and buy a MetLife [MET], AK Steel [AKS] or MGM Mirage [MGM] at such depressed levels I buy and then sell a call against them which takes them through multi-year lows in terms of the protection that offers.”

For example take Chesapeake Energy [CHK], the leading producer of natural gas in the company. At the close I bought that stock at $18 and sold the January 20 calls for $4 that means I’ve effectively paid $14. And I’m protected very far down low.”

I’d look at buying IBM [IBM], says the Adami. I think the company still has upside growth.

General Mills [GIS] looks attractive to me, says Terranova. The stock has great fundamentals and investors have just thrown it overboard out of fear.

I like Charles Schwab [SCHW] under $20 a share adds Pete Najarian.