bill. >> it was. you have more to come? >> i will be in europe next w k week. >> that does it for closing bell. >> you do not want to miss options actions. >> how would you like to turn time into money? >> it is not iphone 5, he will show you how he can help you, too. >> in just one month. he will break it down. scott nations with the discovery.

>> think the market was quiet? think again. the rally that has taken stocks to multiyear highs is finally broadening out. how long can this last? let's get in the money right now and find out. among the big gainers of the week, bank of america up. are you finally a believer? have you come around, dan? >> listen, the price action this week was amazing. to me it's the technical set up. we talked abit earlier in the week. it didn't take a whole heck of a lot of news. they announced one of the most telegraphed bond buying plans that were helping to stop systemic ris tok the system. basically the market consolidated a little bit.

it didn't have a whole heck of a lot to do. >> i will pish back. when we heard draghi saying we are going to do exactly what was dell graphed yesterday, you can look at it your way or mario has actually delivered on the promise. he fulfilled the promise to the market. >> to take the risk out of their solvency issues. >> didn't speak to any sort of growth. >> you know? >> good, mike. why don't you go ahead. >> i think you have a good point.

>> even the safety trade stocks were up. that means the fed is going to step in and do more as well. >> in many ways mike is right. the market really could do no wrong. >> i don't know how much more bullish you can get. there was huge call volume and pretty speculative names. but the xlf, the financial

sector etf saw five calls trade for every put. incredibly bullish. >> there was a huge sell in bank of america. some guys are gaining this sort of stuff. i would just make one last point as we head into this fed announcement. let's be perfectly clear here. they are going to go into a qe 3. that sounds crazy to me. >> if you think most of wall stre street. >> talk about the massive call

buying. >> i think it's very hard at this point. i would not with my own money sit here and say i think you should short financials here. it seems to be a one way train. on the other hand, i also am concerned about macro economic factors. when i look at a name. >> it's a fairly simple strategy. we should open up the play book to review the struggle. a higher strike call. you want it to go the high

strike. that's also if you profits are capped. why don't you go ahead and lay out the trade for us. >> i'm looking at a $1 call spread. i'm going to spend 30 cents to buy those october calls and sell the other ones against it. that's basically going to be a 25 cent debit to me. this talk is going to announce earnings on the 17th. >> what we have seen is index volatility. it has dropped much more precipitously than as it on single names.

>> the stock is up by more than 150%. the top reformer. at this point would you be more inclirned to actually do what mike said you should not do and that is short or effectively short the stock. >> it is a classic beta trade and you see investors pile into the stock and the options. the stock went up 30 cents yesterday and today. he is suggesting a call spread that cost 35 cents. >> one thing real quick. i do a completely different trade. bullish in bank of america because the stock's below $10 you have to change it up a bit. >> let's wrap this up. you want to buy bank of america, 100 shares would set you back about $00. you can sell your stock and use

a portion to buy options and that costs less than $25 and it could triple your money by october. >> it seems like we have been talking about it all year and now it's days away. we are talking about the unveiling of the iphone 5. he is also making his options actions debut. >> everything that i have been hear something that it is le jet mat. >> more significant ly.

>> the data plans are enticing parents to buy their kids more smart phones. and a free iphone gives verizon a significant opportunity to upsell teens and betweens into the family plans for the first time. she wouldn't touch the iphone. aside from that, don't completely dismiss the i pod line. i pod touch has not been updated in a couple of years and some leagues say it is more iphone 4 like maybe with a longer screen and then there is the ipod nano. rumor is it is getting redesigned. has happenle figured out how to squeeze a touch screen and ios

into a mini? it's not actually the ipad or the mini, it's the iphone and i pod. you are less likely to want to switch and invest in a whole new amazon eco system. >> you know, you mentioned the i pod rsh apple is not trying to knock it down. they tl are supply chain indications. >> have a great weekend. dan, what's your view on where

apple goes from here and what the true catalyst is. we're all looking for the iphone 5 but maybe it's not that. >> i think this phone, based on the leaked photos and some of the details, i think it's going to be disappointing. remember, the iphone 4 came out in june 2010 and then the 4s. it was a very evolutionary upgrade. they are actually finally going to step into 2012 and give us a 4g compatible phone. it doesn't excite me. i'm not sure i'm running out to get that phone especially if the battery is going to stink. i'm more interested in the ipad miniand how they will compete with the lower end tablets. >> so near term volatility.

>> it's a bullish strategy where you buy a call and to finance it you sell a near dated call with the same strike to reduce your costs.

that is my max risk. what i hope to have happen, i want apple to be below $700. reducing the cost of what it costs me right now. i think there could be a ramp into any speculation. i'm not really bullish. i don't really think the stock should be bought. >> as opposed to waiting for what you believe will be the sell off and waiting to be put on a bullish trade going into the ipad mini. >> this is a trade that should

make money if the stock just sits here. that is one of the reasons that options traders like to be long calendars. i really think these are the types of trades that options traders would like to do. >> i think this one makes a lot of sense because dan is sort of bullish. you can't be outright bullish. you just get carried out if you buy at the very top. >> you might be thinking, if you like apple, why not just buy the stock? you don't need to ask that question, just play stocks versus options.

>> there is even more left in the trade. >> who is it? the answer when options actions returns. [ male announcer ] trading's like a high-speed train. and you don't want to miss it with thinkorswim by td ameritrade.

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use the news links breaking stories with possible breakout stocks, options with potential opportunity, futures and forex with in-depth analysis. it's an all-you-can-eat buffet for all things trading. thinkorswim by td ameritrade. it doesn't just deliver news. it's making news. trade commission free for 60 days, plus get up to $600 when you open an account. >> where were options traders pumping up the volume this week? call volume was over five times the average daily volume. >> welcome back. time for a segment everyone can relate to. time for i need more cash. we look back on winners.

>> part of the shares were ready for take-off. >> boeing is actually the place to be. >> time to buy into boeing. but purchasing 100 shares that would cost him $7,000. >> anything below that level, mike will see losses by expiration. but now instead of spending 7 grand, mike spent $125 to buy that call. that's the most he could lose on the trade but it gets better.

why is that? because if boeing shares do rise, more money in mike's pocket. >> had you bought the stock at the time of the trade, you would have made 2% but mike's call purchase can be sold today for $1.60 and that is a return of 30%. and that is good in any time frame. he is in the uk partying with the prince of whales but he was good enough to tell us this. we are long and strong bowing

and committed to the trade for more than just a quick pop. indeed we are looking for a move to the $80 plus or minus level. nice of carter to drop us a line. now we know what cart ser doing. mike what are you doing? >> i'm definitely sticking with this. it's true that the stock is up 2%. ill's relatively weak for a stock. as a result of it. however, i still like this stock. fundamentally, i think it's one of the better run companies out there and they have long term tail winds. it's too early to spread it. we will wait for an opportunity to get all of the money and then some out of this.

>> mike is exactly right. he has not made all he can in this trade. it's trailing the s&p a little bit and there's no reason to take profits. >> a reminder. if you want updates, be sure to follow us on twitter. dan does post regular results of his trades. if you are on facebook, stay posted on our trades at facebook.com/optionsactions. >> like us, too? >> like us, of course.

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when you open an account. >> if you like crab cakes, we have got the video for you. officials have broken the record for the world's largest crab cake. it contained 200 pounds of crab cake or roughly 1600 crabs. fairgoers clawed their way to the cake. >> time now for the final call. mike, kick it off. >> don't take your profits too quickly. >> scott? >> market had a great week. don't go crazy if you will get wrong. >> dan? >> i am not a buyer of apple, but i like it.

>> for more, go to our website. we will see you back here next friday at 5:00 eastern. in the meantime, money in motion is up right after this break. [ male announcer ] trading's like a high-speed train. and you don't want to miss it with thinkorswim by td ameritrade. you get knock-your-socks-off tools, simple one-click orders, real-time paper trading to hone your skills, plus anytime you need it support. ♪ stocks, options, futures, and forex. get your trading on track. thinkorswim by td ameritrade. trade commission free for 60 days, plus get up to $600 when you open an account. the markets keep moving.

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