creating some buzz but p&g is in a sweet spot right now when it comes to growth. it's upending the whole category >> dow higher today, s&p slightly lower all eyes on the fed. meeting starts tomorrow, decision on wednesday. we are out of time that does it for "closing bell". >> "fast money" begins right now. live from the markets overlooking new york city time square, i'm melissa bell a beyond meat down shares down after results reporting. also ahead, two names to buy, two to sell as we kick off the busiest earnings week of the season later food for thought the one part of the market goldman sachs is bullish on.

beyond meat down big let's get more on beyond's quarter. >> beyond meat shares taking a dive as you mentioned after the company announced a secondary share offering shares slip more than 11% after the company made that announcement a secondary offering of 3.25 million shares which increases its float. that could boost short seller interest in the stock which prior to earnings was a 16% of the float. keep in mind that number itself was a bit inflated because the company is still in its lockup period the company mentioned on the call it can't comment on the secondary offering due to regulatory requirements. beyond's worst to date was on june 11th when it lost more than 25%. the stock is still up a little less than 700% since its i.p.o many analysts were focussed on the company's top line growth. beyond attributes its top line beat to a number of factors,

including new partners and increased demand from existing partners >> we are using our advantage to drive, continued expansion in retail and food service channels today we have achieved broad distribution across more than 63,000 points of sale worldwide this is up from 30,000 points of sale at the time of our i.p.o. three months ago we're increasing velocities. >> what remains to be sceeen is how the company's guidance bears out with increased competition as far as the short interest, earlier today i talked to jim le-venn that will, he told me that he was undecided on whether to short the stock he said he was waiting for a catalyst to break the stock's rise for at least two days we'll see what tomorrow brings but shares are down right now almost 13%

back to you. >> when does the lockup expire >> october 29th is 180 days after the company went i por.i. however built into that we have to account for holidays and quiet periods. that's a question for analysts >> thank you beyond suffering a huge fall in the after hoursessions if you're an investor in beyond meat, the lock up doesn't expire until the fall and here we are with 3 million shares coming to market what would you think >> i would be preteshed. although we have seen this a couple times before. we were trying to remember, we think go pro did that happen the stock went to 90 so i guess you got to be prepared if you are a shareholder that stock could come, you know, they could do it -- it's interesting to me, three and a quarter million, the quarter million is actual new

shares the company is issuing. which seem to be a fig leaf to allow the 3 million that insiders are selling, which are not new shares although the float will now be 30% more shares trading freely in the market. so that's interesting. you can't fault any insider for wanting to sell here, this is crazy. >> they say they're going to wave that lockup period for this i would think if you are the investment banker or the selling shareholders here, after basically a 700% mispricing, the bankers don't have much of a choice at $200 they should have priced this closer to $200 rather than the original i.p.o. price. that's why they're allowing it to be unlocked this is venture capitalists, you can't blame them saying we need liquidity in this. how it impacts the stock, they have money to spend on expansion. at these prices i am not a buyer. there will be a time when the stock crate ers and we'll say

beyond meat is dead, and all that, we'll come up with some whitty thing to say and that's when you want to buy it. >> typically when something like this happens, wherever they price this thing i believe on wednesday, they being goldman sachs, j.p. morgan and one other bank see where it's priced, it gives you something to trade against was it miss priced, i don't know, $200, 13 billion with a b dollar company i don't think anybody in their wildest dreams thought by july 29th this would be a $13 billion company. that said if you're looking for the easy -- well, as easy as it can be see where they price it on wednesday. >> you're saying for argument's sake it priced at 190. that means you think there's a floor? >> i'm not saying there is a floor. but at least it gives you something you can trade around. >> what people are willing to pay for the stock right now. >> yeah.

that's an interesting way to trade it. >> two things i see with something like this. having a massive cap of 13 billion doesn't mean you have a great balance sheet. brian talked about the ability to be tactical at a time why shouldn't you go to market that makes sense to me i realize this is insiders getting out but to the extent this is an opportunity the free float is part of where the stock is trading where it is this should be encouraging short sellers, folks who want to go after it in the market totally different business models and situations but it reminds me of till ray, where you had this hot i.p.o., no borrow, totally small float. insiders are raising liquidity and you had a chance for people to go after the stock and finally all the people who shorted and had it squeezed in their face saw some of the air come out of the balloon. >> let's use that till ray example. what happened after the air came out of the balloon, did the air

go back into the balloon >> no. it went from 280 to the mid 30s. now trading in the low 40s >> another conversation we could have is you have all these insiders selling when the stock is $200 a share. why are they selling right now i understand the liquidity. >> liquidity, you can make a lot of cases for why, maybe it's too big a position now for them. we have something that goes up 800%, 700%, maybe that's why nevertheless, it is selling. >> i agree it is selling but it's not like there's another 3 million -- i shouldn't say. there is probably isn't another 3 million shares behind it presumably if you're going to do this, you satisfy the supply that wants to come out, get it done in one fell swoop >> would you be interested in beyond meat down 12.5% >> no. again, full disclosure we had talked about this stock in june.

we said this stock is to trade $100 tomorrow. if you were fortunate to get in after the i.p.o., you basically doubled your money the smart thing to do is sell half your position $100 later here we are again, $100 i thought it was the right thing to do to take money off the table. so it would be disingenuous for me to say you have to short it here it doesn't make sense. $13 billion company going to do maybe $300 million in revenues this year. the math doesn't work. obviously it's good for other people, though. >> to compare the market cap this is almost half of tyson, one third of kraft some of the biggest companies in in the world. talk about competition the fact they've added 20,000 outlets and distribution points is very impressive but it doesn't really feed to -- sorry for the pun -- the place where the competitive landscape i think is going to get wicked hot against these guys. >> why can't they compete? doesn't beyond meat at this

point have the buzz factor that tyson's root in whatever it is called, that doesn't have it. >> but again, maybe bad metaphors but unlike tesla where there's a leadership advantage, i don't think there's a technology advantage there may have been a distribution advantage but talking about the biggest food companies in the world, they can walk right over those distribution channels. >> jim kramer on the halftime report today called ethan brown the elon musk of alternative meat he made that comparison. >> interesting >> in terms of of a vision -- >> visionary in terms of of a visionary, in terms of of a new product out there disrupting the current market able to compete with the giants, the legacy players, like a ford and gm, beyond meat is competing with tyson and nestle and tesla is somehow doing it, to various degrees of success. >> right no question.

>> some of these high ups they're getting where they're happy to say we serve beyond meat burgers, that's something these are big competitors. i can't even remotely get close to this valuation. >> they have shortages, right? what they've done is create a better product like tesla did or created a better buzz. i've teslaed plenty of veggie burgers in my day, it teslaed like cardboard i tried a beyond meat burger it was delicious. i think there is a mode around their business but a stock up 800%, i don't care what asset class. you have to pause and say take a little bit off. >> what snide comment is about to come out of your mouth. >> i was thinking a side business but prop erdecor rum prohibits me from saying what aisle in the pharmacy they should be -- >> given the problems you've had. one example.

beyond beyond. the conference call is going on 40 minutes in we'll bring you the details as we have them. there were plenty of other names reporting this weekend, more than 30% of the s&p is out with results. along with seven dow giants. how do you play the week ahead chart master is here to give us the long and short of it. >> it is a big week, the stakes are high you get it right you get paid, you don't you limp home busted i have your two buys and two sells. each is not by the company but the pattern type ge is a dud starting to bottom square is a strong stock p&g and exxon looks like it's going to get weaker. square, a lot of tension here, but you can draw the lines different ways, one you can see they're well defined tops at a

common level and the presumption is we're going to break out from the well defined tops. that's a nice set up the green arrow, the betting is this way another way to draw the lines for square would be as folsd follows, the same presumption, resolution up and out. ge, a dud. right. but i think this is what is called a bearish to bullish reversal one way to draw the line, put in a moving average, another way is to do a wedge. it's happening in the bottom as opposed to square and top. my betting is we're going to break out. the moving average to put in context. this line you can use any one you want 200, 150 in this case it's starting to bottom and has the look and femael of a bearish to bullish reversal this is a case of too good, too hot. has come a long way, a couple ways to draw the line, one a

trend line the principle is we've been off the trend line but every time we've gotten this far above we've checked back i'm betting we would check back. another way, use an automated trend line how far can you get without ultimately getting reakwan at a timed with your average price the betting here it will not be good enough. and exxon mobile the truth is what, the truth is this it's just a big old waste of time let's take this chart and talk about relative performance the thinking that here we have the low in the market and that the stock is bounced, albeit barely but it's making two and three year lows. not so good. this is another i would fade >> carter come over. without a doubt. >> thank you >> i want to start with proctor and gamble because staples had a new high today

is this a sector call as it is a proctor & gamble call? >> technique, a good technique is wait for earnings and then press or wait for the strength and then go after it it's higher risk to do this because you can get murdered if you get it wrong, the direction. in terms of proctor we know it's had three quarterly beats in a row. last quarter the stock beat again but didn't move higher i think you have this risk here. >> you showed it coming to the trend line multiple times. how far below is the trend line. >> it's 3 to 5%, using the trend line itself, the moving average more than 7 or 8%. anything in up trend are characterized by counter trend sell offs, down trends have counter trend rallies. so counter trend moves against the primary trend this is part of the way it works. >> proctor & gamble, i'm going

to make a comment -- >> he's here you can ask directly. >> i get concerned i'm so scared now since we brought him back. my concern is simple, trades 25 times next year's earnings, what are people looking at in proctor & gamble that they this -- >> we have a road map what coke did. coke is equally expensive with uninspiring growth but popped on its earnings so somehow this is a place you can be okay. my thinking is it won't do what coke did and it's more risk to the downside. >> carter, how does square appear relative to the high multiple tech stocks in the space that didn't have a good quarter, look at pay pal. >> squares was the greatest winner and now it's been lagging. the thinking here, what i see this recent performance is the set up for the catch up. the others are just -- well all

fin tack is up and to the right and extended i think this is an opportunity. >> carter thank you. good-bye carter. is that clear? i hope that was clear. >> which trade do you like >> square. easily square. you can talk about the valuation. what's interesting is data is the new oil. what does square have, data. >> ge my number one pick in the "power lunch" draft. the bar has been lowered for two q. to me the comp is not that difficult. i think ge, bad news, very baked in. >> coming up your call of the day, the one part of the market goldman sachs is bullish on. plus more on beyond meat's first quarter. talk to an analyst that says beware of getting burned by the fast moving stock. more fast money right after this

welcome back to fast money goldman working up an appetite for fast food stocks out with a bullish stocks on a number of names in the space chipotle, mcdonald's, saying the

restaurant space is a rare part of the market that has yet to get hitd by the amazon affect. guy? >> respectfully, they just came to this conclusion, i'm not trying to be a wise ga r guy, ty don't seem to split the targets here cmg $1,000, good for them putting it out there, there's a lot of reasons to be bullish on these names. i'm not certain amazon proof is one of them. i'll go to starbucks you're talking about a company with crazy valuations just as goldman initiated with a buy, you had other people downgrade the name as well. you're coming in a lot of these stocks valuations matter one that stands out to me and i worked there a day. >> shake shack. >> valuation through the roof yet their growth is pretty outstanding. so you have to ask yourself does shake shack make sense is it in the area that chipotle was a

year or so ago i say yes. >> i guess embedded in this notion this is amazon proof is should these stocks demand a higher valuation at this point should we say fine i'm going to pay up for that because people need their coffee, they're not getting it delivered by amazon >> there was a couple other things underlying as well. the piece was a lengthy piece, maybe that's what took so long, i didn't get through the whole thing. some things they point out we've seen pressure on wages they're saying that's good who are the customers of these limited services restaurants, people who have more money in their pocket, talk about gas prices having been steady for a long time. and the third thing was the digital, the drive that this is just become another significant growth engine and so maybe these valuations seem high but if you believe there is a real secular another leg up, maybe not.

>> look at domino's pizza as they were adopting technology. granted they're getting digged now because of the rise of the delivery apps -- >> right so that is the big thing and they pointed out that chipotle is probably going to be the one that has the biggest potential benefit from digitization as well as maybe a store upgrade so you get more people coming in that being said these stocks have had a major run do guy's point, you're not discovering anything, this is not new. i'm a seller of all of these the goldman note was great but too late. >> this is a case where i think you let your winners run people sell these too soon. the point goldman made is the most glaring up, comps are up 27 and the ebt up 16% for valuations starbucks and mcdonald's are ones i've held for a while and watch them rerate.

deliveries make for bigger ticket items that's what everyone wants to see. >> you can read more on our website. i'm melissa lee. here's what else is coming up. >> announcer: a big warning for your money why one top strategist is ringing the alarm as we head into the busy week of the earnings season. later game over at the box office what happened over the weekend that could have hollywood seeing stars? fast money is back after this break. this is also mia's pulse. that her doctor keeps in check, so she can find balance. this is mia's pulse, and now it's more stable than ever. this is what medicare from blue cross blue shield does for mia. and with over 80 years of healthcare expertise, imagine what we can do for you. this is the benefit of blue.

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fresh two year high. it comes as brexit drama returns to the market. boris johnson ramping up the ret ti rhetoric that a no deal brexit could be in the cards. what's your take on the dollar. >> the higher the dollar goes the bigger the chance that the president is going to come out and intervene in the currency markets. i think that's the worry you had. you had the swiss national bank do it last week, the bank of japan said they're going to continue with strong stimulus. saw the british pound drop today. if you see the euro drop you get the dollar breakout that causes problems for multinationals we talked about proctor & gamble all of that. >> time out. didn't the president say he wasn't going to intervene -- >> no, larry kudlow said that. i would add, there was a for now. >> if you look at the dollar it's where it was in 2015 in terms of the dollar index, in trade weighted terms it's

cheaper. if you look at the central bank different shls at this point it's hard to argue that our fed wasn't a place it was in 2015 or 2014 when the dollar was going up to 110 on the dixie i agree. i'm not sure whether this administration we should listen to what they're going to say they're going to do or not do, but i think a dollar intervention at this point, especially a world without inflation, is something that would be not smart. >> it comes two days before the fed decision on interest rate. wall street expecting to see the first interest rate since the crisis let's bring in the head of bank of america merle lynch, great to see you. >> great to be here. >> 25 basis points that's baked in what do you think the market reaction is to something so widely anticipated. >> we don't get 25 basis points i think the market will throw a tantrum. if we get more than that the market might freak out because

that means that things are worse than everybody thinks. my guess is we get 25 basis points beyond that our view is we continue to see the fed backstop risk and do whatever it takes to sort of extend the cycle it's a tough position to be in you don't want to be short equities when you have the fed saying we're going to do whatever we can to extend the bull market, the economic cycle. then on the other hand you have trade, you have paralysis of the corporate sector so i feel like it's a tricky market right now what i think is super interesting is that when we look at the buy side, when we look at institutional managers, they are more correlated with one another than we've ever seen it, one of the things we wrote about last week was the overlap between long only mutual funds and hedge funds has reached peak levels. i think this smacks of massive

uncertainty. there's always uncertainty in the market nobody knows what's going to happen tomorrow or next year but uncertainty coupled with career risk is driving everybody into this narrow subset of stocks. >> that was the note that came out a couple weeks ago from bank of america. >> exactly. >> that caught my eye. so when the fed is creating this environment here where you know it's going to be backstopping risk, does that further crowd these trades in terms of -- >> it sort of feels like it. basically what they're doing is extending the mantra that we've heard for over 10 years now, which is that we're here for you, central banks and policy makers are going to grease the wheels, keep the cycle going we've had unprecedented monetary stimulus we're starting to see fiscal stimulus so i feel it is forcing investors into this narrow subset of stocks that do well in an environment of zero interest rates but not necessarily great

economic growth which is a weird environment. we haven't had this until this cycle. >> you mentioned we're getting fiscal stimulus. >> yes. >> we have the election coming up, likely politicians are going to want to keep the economy going. how big is the fiscal stimulus do you think is going to be coming, do i look at cyclicals versus defensive >> everybody wants it, bipartisan support, the problem is i don't think anyone agrees how to fund it you have republicans that want to cut taxes and democrats that want to cut spending i think it's a big question mark until we get closer to the elections when we get through the primary and know who the democratic candidate will be then we'll have a clearer idea we could have passed a sizable fiscal stimulus bill over the last eight years now and we haven't because nobody can agree how to fund it so i worry that fiscal stimulus is all that makes sense.

stuff in the u.s. is old, breaking down, you go to airports, they're terrible, but i don't know if we're going to ever get the politicians to agree on how to fund it. i think if we did see it it would be great for industrials, for technology for more of the unit volume sales plays that haven't worked for a long time the question is, are we going to get that we've been waiting for fiscal stimulus for a long time. >> if i listen to something else i think you're worried about, is you had theearning revision ratios that look awful, the sales revision ratios that look awful and everything everybody said in the second half of the year in terms of guidance looks like it's playing out and we're back to 2013 levels. >> i think part of that, tell me if i'm wrong, i feel this happens. there's a couple quarters then management uses the rest of the year to guide down analysts are taking down numbers. numbers for next year are way too high everybody knows it

how many investors think the s&p is going to grow earnings at 12%, not a lot of people i think we started to discount slower growth and corporations are using this as an opportunity to guide down aggressively because they don't have a reason to guide up. now i have to say, i'm a lot more positive than it sounds like i am on the longer term prospects for stocks because i think the s&p 500 is relatively under owned we have a lot of investors piled into bonds or bond-like stocks so any sentiment measure we look at suggests maybe there's five or six stocks super crowded but the rest of the market doesn't have a ton of positioning risk i just worry we're at a point where the -- you know, the kind of the growth we're seeing is so unusual that it's really squeezing investors into a narrow subset of stocks. my best advice to anyone would

be to stay out of those stocks and find something else. there's a lot of cheap, high quality cyclical areas of the market, the u.s. consumer is doing fine there's lots of places to go besides fang stocks, high growth and defensive, those are the spots that we would recommend. >> thank you >> thank you the fact that we, the united states, they're considering dollar intervention to me again is absolutely mad -- you have to ask yourself, what level of permanence, if any would it have and would the fact that we're doing it cause more harm than good i say it would cause more harm than good with the dollar at levels we haven't seen in a few years-ish, gold market continues to hang in there i think again i'll say the gold market is trying to tell the market something it's trying to tell the market the central banks are out of control and it wants to go higher say out of the things we talk about you stay in the gold

minors. >> you own some of the crowded trains. >> i do. i think google is not crazy expensive given the quarter they put up i'm not worried about short term, you know, trading around the market so i'm staying in those. >> all right we're all over this big move in beyond meat. touching after hour lows we'll get a take on the quarter. and speaking of earnings we're less than 24 hours away from apple's big report why the options market is betting the stock could see a big drop when those earnings reports come out stay with us - stand up if you are first generation college student.

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welcome back to fast money shares of beyond meat hitting after hour session lows in the back of its earnings and the announcement of a secondary offering, they had been on a tear since their may i.p.o., up nearly 800%. our next expert changed her tune putting a downgrade on the stock. let's bring in alexi howard. great to speak with you. >> great to speak with you, too. >> what's your take on a quarter and more specifically the secondary offering.

>> so it came through better than estimates the sales were strong, the profits were good. the guidance for the full year, they raised the sales estimate from $210 million to $240 million, which is nice but not exactly a massive move there. but bear in mind that doesn't include some of their wins that they've announced recently, including the dunk indonuts relationship getting off the ground so there's possibility for more good news with the secondary offering i think it's interesting that we are going to get a more sizable, although it's still a small portion that's going to be publically traded. they're going to use that to ramp up their capacity for next year this is clearly a business where the problem is a high quality

problem, lots of demand from lots of different avenues. so they're obviously doing that so they can get out ahead of the rest of the competition. >> i didn't get a chance to read that june downgrade but part of it would have been the run in the stock to that date what level does the stock have to get -- we've seen another quarter of earnings and they're largely pretty good, what level does it have to reach to get more bullish >> we've seen the valuation becoming more and more stressed over time so that is the constraint here. what we're looking at at the moment we've had a string of good news for the stock if we did see a little bit of weakness at some point, i think that might be an opportunity to get back in but we have to see how it plays out but it's been a volatile stock over the last few months as you pointed out. >> in terms of the competitive

threats which we talk about here, when do you think we might start to see some real competition, beside impossible burger, a tyson or somebody like that trying to come in aggressively >> they've been up against the impossible burger for some time now, particularly exclusively -- their claims with different restaurant chains around the country. we now have tyson having announced they're bringing out on the plant based front later this year or they started. nestle has talked about bringing one of their burgers over, they already trialed it, or started trialing some of those in europe, but they're planning a u.s. launch in the fall. and even companies like con agra are trying to get into the game. so i think what we as analysts are going to be doing is keep a close eye on what's happening with the debt to sales ratio

we're getting from the grocery channels particularly, yes, trying to see how the distribution, how the shelf space is developing as the different brands bring different products to the table. >> thanks for phoning in we appreciate your analysis. >> thank you let's trade it here, tim >> good for her for really being both ways on this trade. she was early she basically said despite what seemed like a difficult valuations out of the gates. i commend her. the competitive landscape is something well, maybe it's not feeding into the numbers we heard today, it's the opposite, demand continues to grow for the name, i don't see where you can begin to justify this. i don't see any competition that keeps it away from the competitors. >> you've been a tesla fan in the past. >> i have been. >> should we for the stock suspend some of the basic

fundamental valuation metrics. i hate to say suspend that -- >> we do. >> is this a stock that will always trade on sentiment and momentum to some degree? >> i don't think so, actually. i think there is some fundamental basis to this. talking about a stock like tesla, you're talking about buying into elon musk's bigger vision than a car. is there a bigger vision here? yeah, if you think sausage is bigger than hamburgers. >> you've tesasted it >> i'm not sure this is a company that could or should get the pass from wall street saying the earnings don't matter. the short term, is the capacity issue. how how much do they need to expend, do they need to expand beyond their missouri roots. that's something investors are going to start asking. coming up, fortnite

championship closing out over the weekend. later apple's day of reckoning, the tech giant gearing up to report earnings tomorrow but one betting against apple betting its rally is about to turn sour. more fast money after this had

welcome back to fast money thousands descended upon arthur ashe stadium in new york over the weekend for the fortnite world cup where they saw a 16-year-old teenager walk away with $3 million, the largest amount won by an individual at an esports event so if you're 16 and won $3 million what is the one thing you would buy right now? there's two separate questions, one thing you would buy but one thing you should buy we're going to do the should buy, tim. >> first of all i think these guys should be investing in youtube and other channels that support their brands if i'm these guys i'd be investing in gear. i mean, apparel. these guys are the coolest kids in town, so between sunglasses, maybe american eagle -- i don't know what's cool anymore i have to defer to brian or guy.

>> guy. >> these guys they are fashion and trend setters in their demographic and that's where i'd be investigating. >> when you say gear you mean chips? >> no. >> you mean like clothing. >> i'm sorry i mean clothing, appar apparel. that which makes -- that hoodie i had on friday. >> made you look cool. >> for five minutes that's about it. >> but he wore it for an hour. >> karen >> i'm not sure i understand the game sit what you would invest or what asset you would buy or that thing or talking about starting a business >> money advice for a 16-year-old with $3 million. >> if it's your first $3 million i would put something away in something conservative maybe do like residential housing, maybe do a two-family house, put your parents downstairs and you upstairs how cool is that if you're 16. >> with the parents? >> they're downstairs. >> you have to keep the parents around this is the best way to do it. >> and then google is my biggest

position, i'd want to own some of that. >> be a modern day peter lynch if you need to know who he is, go to your google machine and find out you see what your buddies are doing in terms of gear and stuff. buy what you know, buy what the people in your little sphere of fortnite is doing. not that i would know, tim because i can't spell fortnite i'm sure your friends are doing things that you're watching. you're going to the mall, eating at certain places, invest in places cool to you. >> i would invest in that change and i would buy bitcoin. >> not surprising. >> i think you need to do a public service announcement and say they should not go buy lambos. >> no. >> doesn't seem to have a driver's license. >> he's 16, he wants one i drove the family wagon and therefore didn't want to get my license at 16.

if i had that kind of dough. >> up next gearing up for apple's report why tomorrow's report could take a bite out of the stock. fa meyilbeacrit after thisk gh you should be mad at leaf blowers. [beep] you should be mad your neighbor always wants to hang out. and you should be mad your smart fridge is unnecessarily complicated. but you're not mad, because you have e*trade which isn't complicated. their tools make trading quicker and simpler. so you can take on the markets with confidence. don't get mad. get e*trade and start trading today.

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welcome back to fast money the final fang stock reports tomorrow and it's up to apple to give a boost, check out how the rest of the names have fared only alphabet is trading higher. mike koe is in san francisco with the options action. >> so apple is a name that typically moves about 6% on average the week that they report that's by the end of the week. just looking at the last eight quarters right now the option is implying a move of 4.3% and a smaller than average move reflects some level of complacency by the markets. however we did see the put call ratio was about double its average today. and one of the trades i noted was the august 195 put somebody bought a little over 4,000 of those, paid a dollar and a half, so they're making a bet that apple can fall below that price

by the $1.50 they paid so not everyone apparently is as sane quinn as the implied move without suggest. >> what do you expect on apple, guy? >> it settles up similar to the way facebook did we talked about it, it's going to push up towards the recent all-time high from last year, facebook it was 211, thought it could fail and that's what happened last year apple the high was august, 227. i don't think we're going to test that level. i think there's a chance the market is going to fade their earnings so i'm in the beware camp. >> when do we look ahead to the release of the 5g phones if we see a pull back as the market seems to be predicting or expecting, is that a chance to buy at that point? >> think of the installed base in another refresh at a time when the push back is they've

elongated the refresh cycle. i think disappointments in hand sets is the biggest driver here, unless you can see some extraordinary services revenue which is impossible at this point. i don't think the positioning in this name is as bullish as we have seen going into other prints and that gives me more confidence for staying long and listening to guidance which we know is going to be different than it was. >> karen >> i'm wondering let's say we see 5g nearer on the horizon, does it give them a pass for crappy quarters -- >> that's my question. >> you have crappy quarters or good quarters until then and if if they're not penalized for t bad ones -- >> we have an analyst saying he believes all the phones introduced will have 5g, the next round of phones that could be major, that could be competitive to lower cost android phones, for instance

>> it could be but i don't think you have to buy it today to make that play there's plenty of quarters you can have a disappointment. right now it's sheppy, everyone is concerned about what services are going to be. they don't have a great product in the service area. they haven't had one they're still a hand set company. if the stock is down 5 to 10%, then maybe you can revisit the 5g play. >> it'll be interesting to hear what tim cook has to say and we'll be covering that conference call tomorrow night. >> as we should. >> about one, china and two potential regulatory overhang. >> the regulatory overhang would be question 1a and 1b, what's up with china and what's going on with the regulatory. he has to address both and i'm sure they will to me the conference call is probably is the most important thing more so than we've seen in bsuessome tim. >>e re to tune to options action friday at 5:30 p.m.

eastern time up next we have the final trades you traded options. thought i'm not really a wall street guy. what's the hesitation? eh, it just feels too complicated, you know? well sure, at first, but jj can help you with that. jj, will you break it down for this gentleman? hey, ian. you know, at td ameritrade, we can walk you through your options trades step by step until you're comfortable. i could be up for that. that's taking options trading from wall st. to main st. hey guys, wanna play some pool? eh, i'm not really a pool guy. what's the hesitation? it's just complicated. step-by-step options trading support from td ameritrade

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13.3% in the after hour sessions this on the back of decent results but it's the secondary offering of 3.3 million shares beyond meat breeching 200. time for the final trade >> talking about what is working in this environment, earning season, health care once again, it says if you could have scripted this, their earnings beats are almost 76% of the health care sector and yet hasn't been priced in. it's been defensive in an environment where the breadth over all has been decent so unh is a stock i like. >> wednesday morning we get ge the name has had trouble over the last few years i'm intrigued by it, we could see a turn here. the way i played it is long leaps because we don't know what the down side is it could turn, debt works the other way, too >> love it >> so carter mentioned a couple

buys i agreed with him on square. if you're wondering what's going on check you out alibaba with my bank. nordstrom reports the first week of aust, gui think squeeze it into that. >>. my mission is simple, to make you money i'm here to level the playing field for all investors. there is always a bull market somewhere and i promise to help you find it. "mad money" starts now hey, i'm cramer. welcome to "mad money. welcome to cramerica other people want to make friends, i want to make you money. my job to train, educate, teach, coac coach.