♪ i'm melissa lee. here are tonight's top three trades. has the music stops for the bernanke blues. signal further easing. dennis gartman joins us with his trade. plus will windows 8 be a game changer for microsoft? and social gaming. it isn't just about zynga. we'll talk to the ceo of a competitor. live from the nasdaq market site, this is "fast money." let's start trading. we've got to start off with gold prices plunging more than 5% as

traders take bernanke's comments. joe, you actually made a trade on gold. >> i think when you have the type of volume that you have today in the gold and silver futures and really in a lot of the commodities themselves, it's a type of day you have to pay attention to the price action. you had gold which made a high for the month of february earlier in the day. then actually made the low for february at the end of the day. the reasons behind it fundamentally, you can point to bernanke. i'm not sure that is the ultimate reason. but i'm not looking for a reason. i'm just looking at the price action. it tells me today a lot of folks who were long are getting out going home tonight short both silver and gold. >> some traders were saying month end squaring of the positions had a role in this thing in addition to the comments. >> i'm still trying to figure out why everybody got so hot under the collar about what he didn't say.

which was a promise for qe-3. he did say that accommodation is going to remain as long as necessary to get the unemployment rate where they want it. so it seems people may have overreacted. >> fast and furious. >> and you look at how they started off the day. you mentioned as soon as it got bernanke on the hill, you start to see this incredible reversal. the slv up over 3640. i think 3644 was the high. then the bottom gets pulled out. underneath 33. we did hover towards the 34 level. the options, yes. they were on fire. you look at the slv options. interesting, however, because you traded more calls than puts. little bit surprising. you'd expect on a day like today you'd get puts to accelerate. it wasn't that way. it was 2-1 calls.

and a lot of repositioning. the most notable trade was out in may. march the most active. in may some large folks out of the calls that had performed and moving up higher strikes to see if they can get some performance out of those. >> so if you had to interpret it, the belief gold will move higher down the road. >> that was my interpretation. gold on the other hand they do work in tandem. i'd expect the same way. >> let's bring in dennis gartman for his take in the move in the precious metals today. always good to speak with you. >> always good to be spoken with. i've got to admit, this is really quite a day. i was doing a speech this morning for ubs early. walked out after 10:00. i was watching gold. it's up a dollar, up two. then down $10, down $15. i was lowing in my own account. it's one of those days you say i

don't know what's going on but i'm selling some because you have no choice. the next thing you know it's down $35 and you listen to what bernanke has been saying having released his comments earlier on. i think you're absolutely right. the lack of an affirmation of qe-3. which was about expected. and we may not have another round of anything from the ecb for awhile. so finally you can say you know what? the major easing monetary authorities may stop easing for awhile. and gold needs policies to push higher. you had a monthly reversal today as joe said. you have to pay attention to that. >> you outlined two major reasons why you think gold moved lower today. do you think they are valid reasons? if they are valid reasons, to what price do you think gold moves? >> well, one. the price action tells you it was a valid reason. today was a good reason why i've

only owned gold in non-u.s. dollar terms. i lost money in gold today but less in euro terms and yen terms than by being long of gold outright. do you think that this continues? when you have -- well, i haven't learned many things in 35 years doing this. but when i see daily reversals, a new high and taking out the previous day's low, i pay attention. when i see weekly reversals i really pay attention. when you see a monthly reversal, if you don't pay attention, you're an idiot. i think you have to pay attention to this. i think there's probably going to be more liquidation. i think there's a lot of people who don't even know what happened. we're going to look at the account and say gold did what? >> you only sold part of your position. why? if you're so convinced this move is going to be lower, why not sell more? it seemed like just a small percentage of your percentage. >> let's be honest. do i wish i had sold my entire position and gotten short?

i'm not that quick. and i'm not sure there's anybody out there who is. i felt i had a good day by mitigating losses. it could have been much, much worse. any rallies tomorrow and i'll be a seller to that market. no ifs, ands, or buts. the same time i was selling yen and euros all day long. sometimes you play defense. sometimes when you've been married to one position, it's hard to throw that overboard but it's easy to go in and sell more yen and euros. >> it's ron. let me ask you about the bernanke commentary or lack thereof. it didn't seem like he was making a commitment not to ease any further. he still had a lot of conditionality around the statements with respect to what the fed was going to do or not going to do. i'm kind of perplexed. the stock had less react to gold. i think maybe people view it two different ways. >> you and i have been around for a long time.

>> i know. >> sadly, isn't it? of the two markets, which one is the more psychologically driven? are stocks more psychologically driven more than gold or is silver the most psychological of all and the most involved in by the public? i think b clearly the metals tend to be more psychologically driven. far more speculative. and it's in these environments that fear gets engendered very quickly. margin calls get created very quickly. and people throw stuff overboard. it's just the way markets function. gold is different than are stocks. silver is different than gold. it's one of the reasons i don't trade gold. >> thanks for your time. dennis gartman of the commodity king. >> again, the price action says it all in gold and silver right

now. i think of the commodity space today, it's important to understand for the first time i think we know who really has true solid fundamentals. and i think when you look at oil which held up very well today and i think when you look at the ag space. you look at wheat and corn and cf industries, that got punished today. i know the fundamentals in the ag space is strong. i want to own that name. joy global, that got punished today. but i know the fundamentals in copper are strong as well. i think that's what we learned today. what's fundamentally strong in the commodity space. >> certainly the move in gold was sharp. the move in minors was not because you would think it was more than -- >> although they have moving to the upside for the most part. it's an interesting area. we always expect to see these minors moving almost in lock step to the gold or gld as most of us are following right now. you never quite see that kind of

relationship really working out. so i guess i wouldn't be quite as surprised it didn't move to the same extent. >> dennis was talking about playing defensive today. with the s&p 500 near the best level since june of 2008, can investors take money off the table? joining us is doug cass. he is gearing up for a correction. doug, it's great to speak with you. i assume it's for the same reasons you outlined the same the last you were on the show. did your correction change of how deep and when? >> it didn't. i think we must recognize the tops of processes. but i continue to believe that the risk on trade is coming to a close. some of the easy money both figuratively and literally might have ended today. and probably there are three questions investors have to ask themselves tonight. first, what role has liquidity played in the market rally? and what will be the impact of some of that liquidity taken out

of the markets. second what role has 0 interest rate policy and whether without interest rates will a domestic economy be self-sustaining. and has zero interest rate policies lost their impact. >> in terms of your correction protection playbook, always walk through one by one. take profits in long positions. which sectors and/or stocks are most in your thought? >> i'm focused on the potential for higher. oil prices ahead which serves as a tax on the consumer as well as a possible slowdown in emerging markets. i would be shorting consumer based companies. i shorted american express. they're exposed to higher gas prices. another idea would be regal

cinema which goes against the threat of higher gas prices and concession and admission costs. but a shortening in the release time of dvds from the time of movie premieres. of course the way to shorten, consumer -- i'm also like jerry seinfeld. you can say that i'm an anti-dentite. my favorite on the dental side is the largest domestic distributors of dental products in the u.s. through that strategy over 25% of its overall sales are to depressed. and most of them are postponable. the third thing i'm shorting would be china. tonight the hcbc manufacturing pmi will come in in addition to some inflation numbers which will be worrisome.

there you can short the fxi. and thirdly i would be short companies that are leveraged to the capital markets. i expect a correction. some of those examples would be morgan and goldman. >> hey, doug. do you say long oil and you think the slowdown in emerging markets? if that's what you said, those two things seem somewhat at ods with one another to me. >> i think you can have a moderation in china and india and still have what i believe -- and i've been writing about this on thestreet.com -- the growing likelihood of an event in the mideast which will create a gap regardless of economic growth conditions. >> last question. you said your language wasn't clear to me in you said these are stocks or areas that you would be short. are you in these positions right now in terms of american

express, regal, rth, china? >> i'm short all of the above and many more. >> all right. we're going to leave it there. doug kass of seabreeze partners and a "fast money" contributor. a lot of interesting ideas. >> i'm not sure i'd go short dental companies based on the notion of an economic slowdown. if you're in the uk, that's an optional procedure anyway. >> that's what guy would say if he was here. >> i know. >> having said that, if you're looking at a 5% correction, i wouldn't get that wound up about it. if you look at the bond market today which did not respond nearly as dramatically as any other market as to what bernanke didn't say. that's where you should find it. the bond market should have fallen apart. we didn't get a back up in yields. i'm not sure the premise is right. doug had multiple premises

involved. a slowdown in china. if all those things happen simultaneously, you should be big short this market and stay there for 20% or 30%. you can't have all those things happen and look for a correction. >> those are all good points. at the same time if you're calling for a correction, the overall market of 3% to 5%, he's signaling out specific sectors that he believes will have a correction that is deeper simply because they have risen more than the overall markets. that's where the opportunity is, he says. >> i think two things about today were surprising. number one, when you talk about sectors that could -- i think the financials traded well in a lousy take. and i know pety will touch on this in a second, but the vix. the volatility itself, it never seemed to really spike or surge today. those two conditions to me, the deep correction. >> let's hit the volatility playbook. seven month lows. so what does this mean? >> if what these guys are all

talking about. and i hear the shorts come on very frequently out of the network. a lot of people talking about the volatility index. here we are trading right around 18. we spent most of the afternoon undernooet 18. a real panic area. i hear all of the conversation about this all the time. so far it has not added up right. that's why you see the s&p pushing the 1370 area. and i think and today's another great example, when you look at the puts, the puts versus the calls and the s&p. so the broad market. that's where the volatility measure is getting the measure from. when you look at the puts, they trade 1.2 million puts again. yes, they're buying these at extremely low levels and they're playing the -- the large institutions out there. that's their stop. they don't have to wait for a

trigger. that gives people the allowance to wait and get the opportunity to get in the market. now is when you should buy protection. when you look at the range, look how tight it has been. it has been very, very tight. we haven't seen these extreme moves. >> it's a little deceptive. if you go to the futures curve, vix prices are higher later on. >> right. and there is no doubt. we will see a spike at some point in time. as of right now, we see no signs of it whatsoever. >> coming up next on "fast," is apple the cheapest $500 billion cap stock of all time? much more "fast money" straight ahead.

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welcome back to "fast money." we are live in new york's times square. the nasdaq surpassed the 3,000 level for the first time since december of 2000.

but was unable to close above the key level. is this a beat of a resistance level? i'm going to take a wild guess and think you guys will say it's a psychological level. what do you say? >> i agree. it has not much import. >> what i will say to you is if there is optimism in the markets and i think there is, certainly the nasdaq is a place you'd want to be. it's not old school like the dow industrials. there's companies within it that is outside the u.s. there's obviously more within the nasdaq itself besides technology that's growing. wynn has been a significant contributor. there's more to get excited about than at the dow. >> i think it's a technology boom, not a bubble. last time we saw 3,000, we were going through it on the downside. not the upside. i think a lot has changed since we've seen these numbers. >> look what we've dug up. the companies stocks that helped

lead the internet bubble helped lead to the 3,000 mark for the first time around. we've seen it on the way up and on the way down a couple times already. qualcomm is up there. if you look at apple, can you imagine? $20 a share. that's some trade. >> so much for the thesis you need financials to lead the market higher. no financials in the nasdaq and look at the performance you get. >> certainly one stock that's helped this time around. microsoft just launched windows 8 for consumer preview. for users to see it before it's launched later on this year. our next guest says this technology could be a game changer for microsoft. we'll talk to him in just a minute. let's talk about how much this has been a catalyst for microsoft. the anticipation of windows 8 has driven microsoft to new high after new high here.

yesterday it setd a new day high session. >> i wish my good friend pedro would have embraced the -- >> you followed me into that. >> but you're looking -- >> are you in there now? >> absolutely. >> it's been a long ride. >> following all the yield chases just like hewlett-packard as well. that worked out well. >> it's only one catalyst. i think the biggest they've got, microsoft to move the last few months, was the ridiculousness of the valuation. you saw it in a lot of big cap nasdaq stocks that had gotten to valuations that were absurd. i love there is a catalyst. this is great. i hope it's huge. but the valuation is just absurd at 25 bucks when you bought it four months ago. >> the same is true of ibm, a whole host of large teches. and if you go back to october, you could have picked these things up. ridiculously cheap levels.

>> you still can. you say that like it's passed. i believe in the story so much and think it's still so cheap that this windows 8 platform and the world mobile congress and the rest of it, when i look at that stock right now i took off some of my upside calls in the money. brought them back. now that all the premium is out and i rolled them up higher. >> all right. let's bring in david pogo who spent today playing with his beta version of windows 8 which was available as of 8:00 a.m. this morning selectly. i hear that it is ipad-like in terms of operating systems. >> microsoft is going into this post-pc era where everything is touch. so what you have here is basically the start menu is gone. now you have a start screen. it's all touch. and it's adapted from the window

7 phones. so you have these big tiles instead of the little icons. each tile tells you things. here's the weather. here's the incoming e-mail. here's the current song playing. like that. so very fluid, very beautiful. i can teach you the whole thing in one second. ready. swipe in from the side to get to the controls. swipe in from 234e other side to switch to apps. and down from the top to get the address a bar. that's the whole thing. >> it's almost a ripoff of the mac-os. that looks to me like the mission control you have and you swipe and get to the page where you have your applications at the bottom. >> i don't know. i actually give them credit for not adapting little icons on a black background like the iphone and android. they went a totally different way. what about people who need the desk top folders and files? for that they've got the real windows hiding underneath here.

so this is regular windows. so if you have a pc, again no start menu. but if you have a regular pc, this is hiding here. that's the downside. now you have two different worlds to learn. this one and you've got the regular desktop at the same time. and you could have two monitors and have this on one and this on the other. but right now the old windows is still hiding just under the surface. >> is this going to alienate pc people? the commercials are you a pc and are you a mac. this looks more like a mac than pc. people like the familiarity of the start button. things we're accustomed to. >> i think the pc folks can't cry because the old pc is still there. it's windows 7 under the lid. then meanwhile, this gives i think microsoft a fighting chance at tablets and phones because it's not just a total ripoff. it's a new approach. they've really sweated the details. this thing is free to download

for anyone right now for people to make their decision. >> you say they're innovating. it seems they're doing what they've always done. generally speaking the whole windows format followed the innovations that were created by apple. and microsoft were always playing catch-up. are they still doing that here? >> exactly so. this all builds off what apple did. no question about it. although it's not just a xerox copy like android did. the thing about dragging your fingers in from edges, it's been done on phone but it's new for an operating system. i think microsoft felt the pressure to do something a little fresh. now they have an app store to download windows store just like the apple store. all integrated into this. in some ways it's a ripoff. but the overall picture, i give them credit. this thing with tiles that tell you what's going on in the apps

without having to open them, i think that's fresh. >> okay. so you're a tech guy, not a stock guy. in terms of the operating system, did this far exceed your expectations? is this something to really get excited about? will this cause people to say i'm going to buy pc, not a mac. >> i've always been a beauty bigot. to me it looks like they've put effort into this and sweated the details. it is extremely fast and fluid and pleasurable to use. i think the people who try it will love it. i think the desktop experience is not as good as tablets and phones. learning to use these things with a mouse and keyboard is not as much fun as using your finger. really it succeeds more on touch screens. so the question is i think can microsoft catch the ipad since it has something that i consider equally as good with the head start that apple's had. that's a tougher call. there will have to be apps and accessories. now you'll move from a tablet to

a phone to a pc, the same operating system where you go. that's cool. >> thanks for coming by. mike khouw, in terms of microsoft options, what have you noticed today? >> it's interesting. the first thing i would say about microsoft copying apple i would go back to the original windows. people thought they were copying the mac. you copy what works. i don't expect to see a whole lot of transition. one thing i will say about microsoft options and the stock generally is i think probably several months ago people finally figured out this was a grossly undervalued name. and we haven't seen that reverse chorus. when you start seeing stress and fractures in the place, we saw a lot in gld in the options today. there was a lot of upside call selling there. microsoft basically we're not seeing that same negative sentiment. >> in terms of the microsoft question, it's not a question if they can beat apple or catch apple. it's if they can capture any

android customers out there and hold on to the customers. is this enough to keep the stock going? >> i think so. you're right. even if it's better, it doesn't matter in some ways because they're so far behind on the tablet space. but i still like the stock. still long. not selling. coming up next on "fast," most liking off your radar. we have the "fast money" portfolio. stay tuned.

welcome back to "fast money." let's get to our "fast money" portfolio. where long-term investing meets the volatility of today's world. karen's making the bull case for a loser on the s&p 500 today. that is staples. blamed for weak international

sales from europe. and yet you still see value in the stock here. >> when you put it like that, big loser today. that happens. i do like the staples store for a lot of reasons. i think there's a lot of ways to win here. you got a balance sheet that's in good shape. recovery in the u.s. and a recovery in small business, i think b we will see that. i think we'll see recovery for europe. any consolidation in the industry would be a huge benefit for anyone left. and i don't think they would be involved in the consolidation. they're too big already. their cash flow generation is huge. and it is undiminished. i think the skill they have, they are so much bigger than the other two players. all of those add up to a valuation that's attractive. a lot of bears like to say what about amazon? amazon could eat their lunch. most people don't know this. staples is the number two internet retailer in the world. there is skill there.

they have a meaningful presence. i'm not expecting that to be the demise of staples at all. i think you've got a lot of leverage to get recovery here. great balance sheet. good management team and scale, scale, scale. >> a div dent of more than 2%. which is higher than the s&p 500 payout. >> more than 2% today. >> yes. >> but for that reason -- so today was not a great day to own staples. i did buy more. i think the analysts might be lukewarm on this. i'm looking out as a much more longer term play. >> what's much longer term in your view? >> a year, 18 months, two years. we'll still be here. >> we will. we'll do a trade update in a year. remember a year ago we were talking about staples? mike khouw, retailers like an amazon are breathing down staples backs.

but also costco, walmart, a lot of the dollar stores. if you also take a look at the price pressures they're going through. >> obviously a lot -- it doesn't even depend that much on what type of retailing you're involved in to see a lot of impression. you see it in amazon which will be the retailer everybody thinks about. karen made a great point. by explaining that staples doesn't just get their sales from bricks and mortar. i don't know a lot of people in those spaces who are going to run to costco as a natural substitute. and the options market sort of backed up the bull case here too. it traded six times its average volume there. definitely bullish sentiment. >> got to take a break here. coming up next, is the next big thing going to appear on your mobile device? plus how you should trade stocks with high short interest. much more "fast money" coming up next. [ female announcer ] it's time for the annual shareholders meeting.

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welcome back to "fast money." we are live at the nasdaq market site. apple continues its rise with the market cap hitting the $500 billion mark. could the story here be how cheap the stock is when you look to price to earnings. look how they compare to other stocks whose cap have hit. you can see a lot of the other stocks when they hit that milestone had higher pes. cisco was at 169. >> surprising. >> and apple of course at 11.5 here. so will it -- a lot of these companies have fallen and they couldn't get back up. >> and they probably had the amount of cash per share that apple has even skewing it further. it's kind of astounding. i mean, price action today was a

little ridiculous in they're coming out with an ipad 3. did anyone think prior to this they were never going to come out with an ipad 3? so it was up on that. >> i think people are waiting for the dividend announcement as well. the stock fundamentally still by every metric is extremely cheap. but it's gone parabolic. it has gone straight up in the last couple months. maybe some caution is warranted. maybe you want to sell calls and protect yourself a bit. when you go back to the air of the stocks during the internet era, i mean, we're nowhere close to the valuations as you pointed out. even exxon, commodity company got there on the base of oil prices. not on anything else. >> all those fun stats were courtesy of research when it comes to the profit margins that hit $500 billion. we're full of stats tonight. we've got other interesting ones

here. apple is worth more than. look at the car companies for instance. apple's worth more than all of these car companies combined. add them all together and apple's still worth more than all of them added together. apple's also worth more than in the media space, all of o these combined. which includes comcast. so that's just -- it's staggering. >> it's bigger than the gdp of saudi arabia. >> the interesting one on the list is disney. you wonder if steve jobs was still with us if with all the cash he'd have if he'd make the move and try to grab all of disney. we know that was a love of his. >> it still trades at a cheap p/e. their margins did go up again. and you've got china with china mobile and telecom as new distribution networks. a note in the late january after the earnings. you just continue to see reasons

why people can talk about this law of large numbers which is ludicrous to actually bring that up in the financial world. they can bring up whatever they want and you can shoot holes in this because it doesn't stand up. when you look at the options world, it tells you people believe there's more upside. we talked about it last week. we talked about -- >> we talked about 700s. that was on our web extra. that's another reason to check out the web extra. but 700s -- >> 750s. forget the strikes. that's not what the question is. >> interesting strike though. >> i'll give you another one. how about the march 570 weak we weeklies. there's lots of great example. yesterday had you been able to get in, there were options -- what was the strike? the 545s went from 1.48 to 9.11. >> for the weekly the 575s -- >> 570s. >> okay.

is there going to be any information about the fundamentals of the business or is it all greater theory i think the stock will trade up in a frenzy by next friday -- >> but next friday, does it -- it does. >> if you go far enough out and look at march 7th the date people expect this. a week and a half later, the last time they had the ipad come out, they showed it a week and a half later, it was out there. they sold so many. sold 15 million in the quarters. these numbers are staggering. 55 million 2011. the volumes of what they're selling with the ipads. the ipad 3, more reason for people to buy in. >> tim cooke's comments about they had more cash than they need. this was senator graham years ago. apple's going to add cash this year. none of these companies previously had more cash than they needed when they hit the half trillion dollar mark in market capitalization. that's an extremely important

point. if they didn't give any money back. >> go t to move on now and talk about a stock other than apple. shares of glu mobile up this year. they make high production value premium games which mean users are try them out for free with the option to upgrade for a small price. from smart phones alone rose 340% from the same period last year. the ceo and president joins us as our guest in the next big thing segment. great to have you with us. >> pleasure to be here. >> i understand there's a highlight and emphasis on the amount of revenues that's growing from smart phones specifically. what are your other sources of revenue? and why would smart phones be better than a feature phone to get your revenue from? >> my firm glu is the only listed company in north america that's solely focused on making games in the free to play business model for specifically apple and google's platforms.

i think the adoption you're seeing globally from consumers gravitating towards new smart phones over feature phones is actually one of the biggest shifts in technology and entertainment in every market worldwide. consumers are engaging more with the smart phone. they're using it more for entertainment. they're using it instead of their laptops, pc, and for home entertainment. there's a shift in the way consumers consume media and entertain themselves. games are in the center of that. >> are people actually spending more time on each game? i would imagine the more time they spend they're likely to spend money on products within the games. >> absolutely. our solo job really comes down to producing experiences which are so compelling we get consumers to give us their time, stay with the game. and to do that, we upgrade our games on both apple and google's platforms very frequently.

you see new content, new experiences, new things to buy. and we keep users around for many months on average. >> it's karen. let me ask you something. what percentage of someone who plays these games actually purchases something and how does that compare to zynga today? >> similar numbers to what you see with zynga. i think zynga's at 2.2% of what their consumers purchase. it depends on the title at glu. we haven't disclosed publicly an average number. we said our revenue per daily active user and percentage paying is very much mirroring what the averages are on the sector. >> tell us more about the company itself. where do you stand? what's your debt right now? how many workers do you have? when are you going to turn profitable? what are the metrics to look at? >> we've got about 600 people. we have operations all over the world. we pride ourselves on being not only great partners for apple

and google and great for all partners advancement, but we actually are most proud of the fact that we're following these partners as they migrate from a single screen to a quadruple screen play as we call it. they're moving to tablets to pc and probably tv screens. glu itself is guided toward reaching the same metric as zynga uses profitability in the fourth quarter of this year. and to do that, you're going to see our smart phone revenue continue to trend up every quarter as you have the past four or five quarters. >> you say you have great partners in google and apple. would you be an acquisition target to being bought? >> you know, i think our management team's fully aligned with our shareholders. so we're of course always willing to enter those conversations with any suitor. >> okay. got to leave it there. we appreciate your time.

interesting business. glu mobile. >> thank you. >> we're probably a different generation in that we don't get mobile gaming. >> my daughter plays this game where you're building a house. >> you got to pay for the house. >> you buy plywood and hammers and things? >> no. she's got her iphone. we tell her not to do it because i don't know what it's called. magic something or other. and they build this house. and she's building these rooms and putting beds in there and they look like 13th century castles. i have no idea why she does it. she has no yed why she does it. >> nothing. >> so it's free. >> there's the thing i don't understand. to me they're all fad stocks. it's going to trade ultimately like electronic arts or any other stock that's been in the gaming business. it can be hasbro. doesn't matter. it's going to go through ups and downs cycles. they're not going to hold on to kids for three months to forever. none of this has panned out the

way people think it might. my humble opinion. >> you have to look at the fundamentals of the company. do they have enough cash on hand. are the debt levels low enough they don't need to raise more in equity. >> is glu mobile your kind of stock? >> we actually do own some at the firm. it's not my position. it's been working so that's nice. the idea you can make something virtual and make money, that's pretty nice. >> coming up next on "fast," is crude heading toward $80 a barrel? we've got the trade as we break down the call of the day. much more "fast" straight ahead. today is gonna be an important day for us. you ready? we wanna be our brother's keeper.

what's number two we wanna do? bring it up to 90 decatherms. how bout ya, joe? let's go ahead and bring it online. attention on site, attention on site. now starting unit nine. some of the world's cleanest gas turbines are now powering some of america's biggest cities. siemens. answers. why? i thought jill was your soul mate. no, no it's her dad. the general's your soul mate? dude what? no, no, no. he's, he's on my back about providing for his little girl. hey don't worry. e-trade's got a totally new investing dashboard. everything is on one page, your investments, quotes, research... it's like the buffet last night. whatever helps you understand man. i'm watching you. oh yeah? well i'm watching you, watching him. [ male announcer ] try the new 360 investing dashboard at e-trade.

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year. if people are concerned about a pullback, this would be one of the stocks to put on a hedge. one way to hedge is to put on a put spread collar. the one i was looking at was the june 43 put spread collar. sell the 31 puts against it for 45 cents and then sell the 43 calls for $1.45. net debit of 15 cents which is approximately the dividend that the stock is going to pay you between now and then in this way. you can hedge all of the gains you've seen this year. >> thanks for that trade. more "options action" every friday, 5:00 here on cnbc. meantime, more "fast money" straight ahead. all energy development comes with some risk,

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based on how accurate they've been in the past. i'm howard spielberg of fidelity investments. the equity summary score is one more innovative reason serious investors are choosing fidelity. get 200 free trades today and explore your next investing idea. time trade. mike khouw. >> there's still time to hedge. and i would. >> joe. >> start thinking about the iphone 5, mobile payments. mxpi. >> if apple has become too big a position in your portfolio, pair it back. >> karen. >> i like staples. >> pete. >> love the big cap names. intel you can still own it. >> thanks for watching. i'll see you tomorrow 9:00 a.m. for "squawk on the street." back tomorrow at 5:00 for "fast money" on