>> and whether it's driven by central banks or fundamental strength in the u.s., or, you know, thoughts that china is getting in under control, all of that factors into what is another record day. >> also point out that yields haven't moved up but the dollars continue strong. >> big story out of me tomorrow on that. >> out of time that does it for "closing bell." >> "fast money" begins right now. >> coming to you from new york's time limits times square, this is "fast money." as always, we are live at the nasdaq market site i'm brian sullivan welcome, glad to have you with us tonight the team of traders includes tim seymour karen finerman, dan nathan and guy adami tonight on fast. tech stocks taking flight. and taking the nasdaq with them. google, garmen, netflix at multiyear all-time highs opinion and joined by the ceo of the nasdaq for thoughts on the record rally, the technology transformation and everything in between. in the meantime the skyrocketing stock has everybody talking and

trade pl galactic, can it keep soaring. tim and dan go man ho y manno and fed pecks. you decide who wins. all that next 60 minutes we start with another record day on wall street as the snazzy animation says the s&p 500 and nasdaq closing at all-time highs. the dow up gold up. oil up real estate up guy. >> yes, sir. >> what's up >> bond's under u.n. changed a repeat what we've been talking about. we led with apple last night what's the deal. we talked about the price action should have been worse karen and tim spoke about this we talked about the suppliers. kor various. skyworks weren't down as much as they should have been. the look at the stocks today apple up big the flows come in.

bad news discounted you could say the fed has our back i don't know but i'll tell you gold rallies newmont mining rallies that's a concern if you want to continue on the bull thesis in the s&p 500. >> look at the u.s. dollar 3.5% year to date look at the fact you get this move higher in gold. you get some of the call them defensive trades at the same time today semiconductors, that which two weeks ago werewere running into global cyclety again all-time highs up 2.5% on the smh etf tracking the semiconductors what we are see something the bar bell trade people reach for one side of buying growth. other side buying value industrial kind of beaten up plays or utilities reits that's working. both sides of the ledger with rates here and the fed not moving, that's the dynamic. >> yeah, i would say this. when you think about 2019, almost 30% gains in the s&p 500 we know a lot of that came from multiple expansion

if you came into 2020 and you said this is the year we get paid getting that high single digits earnings growth, what the coronavirus tells us no matter what you think when it's over and when the kwarn teerns are done and china as factory to the world is back online, you just lost q12020. that's a fact here the notion that you think that we're seeing this v-reversal whether accommodative policy or pentup demand. i think it's lazy commentary i see that permeating a lot of investors and financial media. i have to tell if you you go two years with multiple expansion, i think that becomes dicey when you see rates where they are and all those things you mentioned you know, why is fowled up why is utilities par bol ib, bitcoin up 40% on the years? there seems to be a disconnect if you look at the s&p 500 equal weight you say it's maga. microsoft up 18% google,ism amazon and the other

one, apple all up teens .that's where we are right now all this other stuff making sense to me is act being like restrictive off. but then those names are risk on >> yeah, i mean to your point, the vix which normally -- like a day like today i would have thought would have come in a lot more it's not it's 1438 i think it closed. i'd like to buy more protection because i'm always long. i feel like this is getting frothy i was hoping the vix would come in but it's not. to your point i think there is signs of -- i don't know. >> lets go through the numbers looking at my screen i'm looking at the numbers throw some numbers you want numbers we'll throw them out the nasdaq 100, four stocks tesla, amd metrica doubled in 17 months only 17 stocks down in that time about 70 stocks up more than 20% in a year. i understand the concept of multiple expansion i get it but can we have multiple expansion for everybody?

>> i don't know. i think to look at the last year, though, i think that coming in and looking where we were february of 2019. things were depressed i think that multiples should have expanded from there because they were too low. >> because the december '18 collapse. >> exactly. >> a lot of that is climbing out of the hole. >> exactly even when you get out there is still -- >> at what point like a waistline and belt too small. >> why do you look at me. >> i'm tapping my stomach here >> his own middle. >> at what point does the expansion get too much. >> when i got to a 36 waist, i said. >>s it's the end of expansion. >> expansion is over. >> you rented ironman. >> got down to 30. to answer your question, at a certain point the passive investing ends miserably stocks take the stairs up a and elevator down. we can talk about wework if that

were publicly traded down 807% over the course of three months we talk about it every day to think individual stocks can't do that is foolish but as long as the market believes the fed has our collective back and passive investing is the rage market goes higher. >> this is the point with lower rates. whether a dcf model or weighted average cost of capital, the lower you push the rates the higher the multiple. and i like to point out that whether it's price to sales, ev, ebidta pe numbers we are back to 2000 levels but not with the same rate environment we had. and it's all about central banks and fed. if we had any other conversation we wouldn't tolerate it. >> when the 10-year treasury brakes breaks the 2012 and 16-year which it will in 2020. that dcf will go out the window. because those were generation. >> dc fflt -- >> woo. >> discounting cash flow, the ban are, the graphic said is a correction coming.

is a correction coming this year >> sure. >> yeah. >> of course it's going to be a correction this year how do you define correction. >> 10 peppers from the highs, definition. >> especially when you consider we went up 16% on the s&p of course we should correct because this was a qe 49 inspired markets. yes i think we get it. >> since the nasdaq -- did the incomes and unone hundred hit a record high today and since yeah at the nasdaq seems like a good idea to bring in the president and ceo of the nasdaq, adenna friedman thanks for letting us be in your house. >> the landlord. you're the negotiator i'm the ambassador. >> she is the landlord. >> thanks for having us in your house. you guys continue to do deals. especially under your tenure we think of the nasdaq first off as cnbc and "fast money. it's an exchange it's a marketplace. >> indeed. >> but you keep doing the deals. one report esg reporting

derivatives. what is the nasdaq today in. >> well today the nasdaq is a technology company that serves the global capital markets and including our own. but also making sure that we provide technology and services that help companies navigate the capital markets. and we provide the technology to 130 other markets around the world. so we really are enabling the capital markets around the world with technology. >> can you talk about derivatives transaction today or getting into the part of the derivatives market everybody says the nasdaq has always had new york stock exchange envy. but when i see this i think are you going after the chicago mercantile exchange. >> what we do is provide the technology to allow other people to go and compete against other exchanges or create new markets. i believe what you are talking about is the fact that we are the technology underpinning a new effort by airbus to create a derivatives market for airline ticket prices, making it so that airlines and ticketing companies as well as the travel agencies

can hedge risk against the highs and lows of the airline ticket prices so that's a new thing. >> and they came to you and said can you build this for us. >> that's correct. they came and said we have in cool idea. and we have some really great executives that know how to operate these types of exchanges. but can you be the technology partner to us to develop the trading system, make sure we can help them connect in as well as provide potentially post trade and surveillance capabilities to them as well >> that's the first. is it the first of many? do you see other industries coming in and getting in on this >> in terms of vertical for revenue that could be a huge market for you guys and gals >> we see that as a big green fltd for us. in terms of other industries thinking differently about how to create realtime pricing for goods, hedging out risks in terms of the -- underlying risk that mind might underminimum their industry how do you east the products to make it to hedge the risk better as well as having fun?

we are provider a of technology into the sports betting arena. that's -- and the more fun area where we a lot of our technology is relevant in that space as well. >> let me ask you about the ipo pipeline and what you see and does it look different than where we were a year ago this time when you had lyft and uber and. >> actually it's -- so far this year we have in more ipos so far than the first quarter of last year and i think that it -- last carrier we had a great year overall. 188 ipos listed on nasdaq. 78% win rate in new listings and raised about $35 billion across the ipos appear nasdaq this year we are etting off to a faster start and the pipeline is just as robust just different names but really interesting companies coming to market. >> adenna, here we are talking about the market and a lot of people talk about 2000 and bubblitious times. from the perspective of nasdaq, the perspective also not just the ipo but the quality of companies coming through and the valuations you see you're not a trader but you see the market in a

unique place at the nasdaq how do you call what's going on right now. >> i actually was at nasdaq in 2000. >> i remember that. >> yes and so it really is in my opinion a very different environment. the average price to earnings ratio of the nasdaq back in 2000 was 100 times plus today it's 26 times. so it isn't -- and the companies that were really -- the largest companies of the world back then were more traditional industry companies. and today all five of the top five companies are listed on nasdaq you've got kind of the much more established companies on nasdaq as well as a lot of big growers. and innovators and disrupters. so i do i think think it's a more varied group, more established group at the top and some interesting innovators. but they are companies making revenue. you know. >> making money. >> making money and coming out on attacking the public markets in a way oh enable growth. it's exciting. >> adenna, i look at your stock and the company and high single digits earnings growth expected the next couple years, consensus

expectations, mid-single digits revenue growth you talked about who sits on top of the highest market cap companies in the world. the way you compete, acquisitions you make. should investors think of this as a stealthy cheap technology play or is it a fintech play or just in the bucket of a pretty niche sort of thing which is exchanges? >> we actually definitely see ourselves in the fintech space as operator of the exchanges we are big technology operator ourselves. but then we also do sell technology enterprise software is our business and data analytics. i would say we're a company squarely in a good space where growth resiliency and predictability is good. >> stock's up 31% in 12 months not only are ooltd of good companies you yourself the nasdaq have done well to dan's point. something we talked about, guy and i talked about here. with dollar volumes of etfs surpassing the dollar volume trading the equity market, do

you see any risk to this explosion -- michael burry one of the sellers of the wig short and everything he says he believes it's a passive bubble ending in tears >> i think that we have to look at the fact that the public markets today still have a wide variety of participants. you've got every day retail. you've got very advanced retail. you've got the mutual fund world, the institutional investors and the types of vehicles that they can trade in or invest in are both the underlying etfs options and futures. it's a very rebouft market process but the level of aum into into coming in the etfs and passive funds are definitely -- there's been a real trend there. the question is do we continue to have the right balance of active and passive and can we continue to make sure that there is the ability to arbitrage against any sort of what i would say herd mentality that might exist and making sure that people can express themselves in terms of having an

opinion like you guys do every day, about how which stocks are really the right ones to get into or which strategies are the right ones to get into, which funds are the right ones to ge and so apersonally believe we are -- we are a very in place. >> you have a lot of levers in place just by the variety of the participation. >> real quick, one quick question esg is the raws rage you guys and gals made acquisition earlier this month can you speak what you are doing to make sure the you are esg friendly for lack of better phrase. >> nasdaq itself we have been working hard to make sure we manage our cashin footprint. now net neutral. carbon zero in terms of our costs and employees costs. but -- the same time we have a great opportunity to partner with companies all over the world to help them manage how they report esg, do it efficientlily effectively. make sure investors understand them and that's what the acquisition

was, is it's a great reporting tool you report in your information once you can propagate it to the metrics providers and the investors. and make it so everyone understands how they are managing to changes and progressing in the esg area. >> let me can you, a lot of candidates talking about a transaction tax. and what would that do to your business would that really put pressure on trading >> well, transaction taxes have been attempted in the past in europe you can look at the affect they had. i would say they weren't successful and most of the country -- actually all of the countries backed away from that because it did impact liquidity and participation in the market. and so one of the great rate assets of our country are capital markets and robustness of capital markets and the variety of participation as we talked about so you want make sure you maintain that and that you have an ability to have liquid access to capital all the time. and i do think a transaction tax as we know will put essentially

some sort of barrier there and our personally belief is that's not the right place to put -- put put a burden on the taxpayers. i think that it would be -- and you can look at examples where it hasn't been successful in the past. >> when you read that the new york stock exchange was going after ebay did you spit out your coffee fall out of your kmar what did you think did you think? what, what. >> i didn't have that kind of reaction i think that -- i think that it's really interesting to think about different marketplaces we with be nasdaq look at it as a technology provider. so how can we enable you know consumer marketplaces to be more efficient, to be able to make it so they can create new market models, run auctions differently? nasdaq as a technology provider could be a technology partner to a lot of different industry verticals including consumer marketplaces what they wanted to do to own ebay that's a different population. >> you can buy stocks and use

socks on the same exchange. >> you could. >>' dina ceo ft. nasdaq. stock up 31% this year appreciate your time and thanks for letting --ologies apologized to all the people for us bothering them. >> they love it. >> never had a crowd like this here except for when guy brings in the dell barton lacrosse team. >> the randos on the street. >> thank you very much. >> thanks. >> all right everybody can breathe a sigh of relief it's fine a new biggest bull on nvidia nothing to do with crypto. seemingly unstoppable stocks, tesla on a tear but why today? what's new anything by the way you can always watch or listen live on the go from anywhere on the app d you haven't downloaded it can bean, download it today. back after this. >> announcer: the cnbc program

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no one else lets you do that. design your own data with xfinity mobile. it's wireless reimagined. simple. easy. awesome. . all right welcome back to "fast money. there is a brand-new nvidia biggest bull on the street your call of the day bernstein slapping the outperform rating on a so 360 target on nvidia, saying a

crypto-free gaming profile and new graphics card products cycle can push the stock higher. the new price target highest on the street implies 15% upside. dan nathan, two questions. is the chip rally getting started? and if so could nvidia lead theway i. >> 15% could be there tomorrow sully. this is an analyst been on the right side of the trade and working his estimates up you know, listen a lot of things that crypto is so '17. if you think about it. but from 2016 to the highs in the 2018 nvidia rallied 1,000% then cut in half in 2018 now it's up more than 10 oh% making new all-time highs. so, you know, this is where one where investors have short memories this is not one i think you want to buy on this sort of breakout here it's trading at a rm reasonable multiple if you tetrahydrocannibols a and autonomy and maybe crypto, if tom lee is right and you

haveo at 20,000 this will be at 400. >> certainly nvidia has been a poster child for momentum in the chip space but looking at fisk alq4 they put up in terms of data center up 43% a billion-dollar business and the expectations for kwiskle q1 is a billion.1 or two. and bunch of upgrades came after the announcement that explains it in realtime there's been the gaming dynamic. certainly they're in the high-speed chips that are higher marngen chips but the core business looks pretty good. >> anybody an issue with the valuation? >> it's rich but i mean growing in with data center. to tim's point this was a $726 million quarter and third quarter grew almost 40% in the fourth quarter. you are seeing continued growth in data center which is decent margin business. valuation, yeah, you could say my god it's rich they seem to be growing into it quarter after quarter. i'm dido with with dan, don't pile in here but the stock

continues the trend. >> dan could be right. the chart is right. >> it's been a widow maker before. >> this is back to where it was. bring up the longer term chart. >> the bulls stayed with it and defended on the grounds of higher margin business. >> one thing, remember yesterday morning when apple missed yesterday morning. nflt survived individualia was 5. >> kaern, so yesterday. >> so yesterday. >> all of our troubles seemed so far away for more on the call of the day, you could head over to the website at cnbc.com. here is what else is coming up on "fast money." >> announcer: the big bounce in bitcoin, is the once volatile cryptocurrency a turning point one bull says it's primed to go higher later a funny things in the options markets as markets are rocketing to new records what's driving the action? and how can you play it.

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is the bitcoin bonanza back in play? the cryptodropping sharply in the last few minutes but not making too much of it. it's up 30% this year. right around the 10,000 level, our next guest says it could double or triple so far this year lets bring in marng yusko joining us from raleigh, north carolina good to have you on the program, mark thanks for very much. >> thanks for having me. >> it fell a bit but the reality is bitcoin is red hot. absolutely red hot by the way along with other cryptos.

what makes you optimistic. because tim called nvidia a widow maker before what makes you confident it moves higher in the volatile market. >> the best thing about the bitcoin market food is the fundamentals the fundamentals continue to increase and improve adoption is growing. the number of wallets is up. the number of trany continue to get stronger and we've got the halving event e rewards every 10 minutes or block. that will be putting decreased pressure on the sales from miners and prices usually adjust around the events we see upward momentum through the med half of the year and second half you get to see the chasing we saw back in '17, just lake the chasing in the stock market today. >> any idea why it's down 5% right now. >> you know, i -- i couldn't

tell you a what happens minute by minute or day to day. i just look at it over long periods of time. like the last time i was on with the traders it was 8,000 they said what should i do? and i said buy it. a year ago on with melissa it was around 3,200, and 3,300. >> i said no, you should buy it. if it's down 5%. buy it today, tomorrow, stack your stats and deposit some as one of our poifrmt companies and get 8% on oh that bitcoin it's a good thing. >> mark, real quick backup it's guy. thanks for coming on do rates going lower across the globe -- is that a bullish for bitcoin or cryptoin general? is there any --

>> all of them u.s. rates are going to zero chinese rates going to zero. they're all going to zero. because of demographics and deflation and too much debt. in a world where the only choice, right you can't pay back the debt you can't default on it. you have to inflate it away by devaluing currency the central bankers are printing that's massively bullish for bitcoin. and goin is the opportunity to opt out of the fiat fiasco going on right now and, guy, you coined the term i'm going to keep talking about it. >> mark, it's karen. let me ask you something clearly that's god, the fiat currency crisis if we have one. >> yeah. >> but is that the main underinprocessing of bitcoin more than the digital currency at this point. >> really great question think about bitcoin itself food it's a store of value it's not designed to be a -- of an exchange traded token like a visa or master card substitute

that's the lightning network companies like zap an investment we just made that takes care of the the second order payment level for speed. bitcoin is designed around most secure network in the world. most powerful computer network in the world it's a perfect store of value. if you follow the stock to flow model, you see that as the flow gets cut in half again here on the halving, the stock to flow ratio improves better than gold and becoming the digital form of gold, that pure store of value it's designed to be that -- that safe haven we use as a part of a diversified portfolio. >> i want to read you tweet by mark wuscop i tell my 5-year-old don't use the s word not that one. all the raging equity bulls do realize that long bonds, the tlt have outperformed stocks the s&p 500 since valuations got to stupid vile levels in january

2018, right? so a you think that stock markets must be dumb right now and b are you still bullish on bonds? >> yeah, so two answers, yes, i think stocks are still in stupidville. i had a typo there although stupid vial there that works too just so vial like in 2000 i think the future is ugly for stocks and bonds, we think rates go lower. tlt is another great hedge along with something like dwsh to get fully hedged if youhood the portfolio of bitcoin. and emerging stocks like china air a shires. >> martin creek capital from raleigh. thank you very much, mark. >> thanks, brian. >> whether it's dan, stupidville ob stupid vial markets saying listen -- i know you recommended a bond etf

before recently on this. >> and i have been for a year. i just agree with mark and you know whatever you want to get to why central banks are accommodative, whether the fed did it kwsh -- a mid-cycle adjustment whatever the heck it was you called it qe 4 ho 4 and now global qe. there is always a reason right now. and i think he is right. look at what happened in our country the last couple of years? we have exploding dechzs lower tax tax receipts where is -- i don't know. >> what does bitcoin do in a crashing stock market which i'm not saying it's going to but do you think the high risk assets class outperformed in that environment? i don't. it's something to think about. everything we talked about tonight on the show which is why bitcoin rallies i don't think you can take away. but if the sky is going to fall and that's the reason they buy it i i'm not sure i want to own it when the stocks cascade. >> good discussion shares of virgin galactic taking off this year. but is the move way too much too

fast kind of the new hot traded stock, up 25%. we'll talk about how you might want to trade it ahead of the numbers next we can. with you first dan and tim are going trader versus trader over fedex. whose argument comes out the winner we'll find out coming up

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all right. well bang. sometimes the best debates here in "fast money" take place off camera in the commercial breaks or conference calls or whatever that's what we want down this afternoon. talking about price action on fedex. all of a sudden realized there was this big beef between tim and dan. we decided to let two traders, good friends in real life duke it out in a little trader versus trader all right one corner of the plaza from the mean streets of the scarsdale new york team the ambassador stealing citi bikes. >> dan nathan hailing from syracuse new york when he is not hating from fedex. he hates tomato put on the gloves gentlemen we are kicking off the first ever edition of trader versus trader tim round one goes to us, the bullish take on fedex. >> yeah within we're not friends right now. i want a piece of dan here we

go i want to talk a little bit about way markets trade right now. we are seeing value plays. i know fedex is a valuation if i want to make it a value, dan will say it's a value trap but certainly at a valuation trough that's part of the growth. valuation trough on the other side what's the catalyst for fedex? absolutely the substitution of using express to complete the final ground that's a massive cost savings you could make the argument this is 10% of eps looking towards '21 when you see it people are waiting for fred smith to wake up and do this there is other catalysts, less of overhang from at any time jet fuel prices that are a benefit to them. the amaze overhang channels out by the second half of 2021 dan and i totally disagree but look egg at the chart fedex after a year and a half of going through a base and certainly the last nine months somewhere around the 140 level i think you started to see the stock begin

to take off here now this is now finally above the 200-day in here. irrelevance raiding above the 200-day moving average for the longest time it has in the last nine months. i think the stock is breaking out. >> dan, the bear, give us the case. >> knock him out. >> here is the problem tim said somewhere around the 140 level. the stock is trading somewhere above the 1060 level i think about this differently here a company that had a host of problems over is the last year and a half or so ranging from slowing global growth, strong dollar, the raid war didn't help them some of the kpetest issues tim sees as catalysts i see problems near-term and problem for earnings power i agree with tim i think there is probably one more bad guide down. when they guided down in december, analysts took a slashes to 2020 and 2021 one more quarter you have like that. and the other thing about the competition. we know that headline about amazon pulling the last mile sort of the stuff, the

residential delivery is a problem for in company right now. the skew right now between business to business and residential is not working out for them and i think there needs to be restructuring. he said fred smith finley -- i love fred smith he invented this industry he will get it right but my point in the near-term why i want to go to the technicals when they report next month i think you have another guide down ablash to guidance. i look at the chart. i draw lines tim likes to eyeball things that's one of the most well defineddown trends as may main man carter to the penney, to the penny that's the one-year kmart. the five-year chart. thedown trend, the support he talks about at 140 12% away, people i see the air packet pocket down to 120 if you guide a down analysts cut the numbers. you see the stock down 10, 15% that's when you buy it. >> good cases on bull head back to your your attorneys

questions. karen you have a question for dan. >> a question for dan. you talk about weak competition and your earlier slides. what do you think ups is going to face the same chart as the same potential downside as feddic. >> here is the thing you saw karen last month on january 30th ups cratered offering disappointing results on guidance right now they face the same competitive disadvantage they have to do with the battling each other, battling amazon, battling a weird trade in global growth situation right now. so i think ups, again a cheap stock. trades below the multiple -- market mums. trades below fedex here. i suspect there is another hit to the earnings in 2020. >> tim, my concern would be margin fedex expressed more than half the revenues but operating margins below 4% ground, whips i think $5 billion in revenues, margins were 6.5% the street was lacking for 10. margins are going the wrong way. could they stem the tide. >> that's the reason they are

making the move into ground and using that express kind of business to complete the final mile through ground is going save them 10% on earnings. qin it's funny daus because dan draws the khouw court you withdraw the chart and make it do anything you want my chart goes to hear here we have broken up after consolidates at resistance this is not necessarily a valuation call this is absolutely a stock with catalyst and i would argue people see -- what's that the blue and gold dress everybody saw something completely different this is gold dress dan sees a blue dress. i can tell you right now this is a clarity that to me is a good chart. >> hmp. >> the dress is blue and black we know that so who has the knockout trade? they both made strong cases on fedex. vote now on the twitter poll at cnbc "fast money." we reveal the champ later on the show he gone as cnbc "fast money. coming up, looking to risk less and make more? of course you are. but there's been a massive surge

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welcome back to "fast money. stocks soaring to new all-time high pps what's new? but there was another rally sort of hiding under the radar. happening in the options market. trading activity has boomed. in fact, options volumes at the highest levels in 14 years if you wonder how to use options to make a play in in run you're in luck. options play chief strategist tony zhang here to teach you how it's done. >> lets look at the markets from a bipolar view which reflects the sentiment currently in the markets. we want to see why options are a smart way to play the current market first of all we see that markets are at full valuation. meaning it's hard to make a case to go long equities from a econominess perspective. also from a technical perspective, we're near overbought conditions. the risk reward metrics to go long equities don't look good. because of fomo, and how strong

the equities markets perform we we want to maintain upside exposure but with limited risk and that's options look at what i was looking at spy, out to the april 3rd expiration after in april. these are were at as the 5. 0. many break even exposed yur in the s. y only a 1.5% move to the upside to make money this trade but to understand this what i'm really risking is only 1.7% of the underlying stock price no matter what happens even if the stock drops. now lets look at this on the flipside because of all the reasons i just laid out, there is a concern there is a high risk of pullback if you see concern of the pullback 3% to 5% or lower whether because of fears of coronavirus or shares like apple guiding lower and you do not want to wish -- do oh not want to move assets to cash one of

the ways you can protect the portfolio is by using put options. so earlier today what i was looking at is going out to the april 17th expiration, further out in time and baying the 3.39 puts at the money puts trading alt 6 parking lot $80. in allows me to take vaping of move to the downside of 2% down spd. markets move 2% lower i protect the portfolio and if markets continue higher i only risk 2% to protect the portfolio this is a great way to utilize options to trade either view in the markets. >> ton du thank you very much. dan, quickly you can comment on that. but what to make of the ivvolum >> guys this move is nice. i think it's interesting the way he processor the up a upside exposure and hedge the portfolio for 2% looking out two months or so to me it touches on what karen said before. vix at 14.5 should be around 112

over the last year at new highs it's been at 12. i think there is trepidation about the rally tony laid oh it out specifically choose your adventure what you want to do options are trep cheap right now. >> thank you, dan. for more "options action" tune in to the full show every friday 5:30 p.m. eastern time coming up more on the hottest stock anywhere, virgin galactic. later on, the latest cnbc special on the coronavirus outbreak tonight 7:00 eastern time. ow'll bring you all you need to knbrae we're back after this i have an idea for a trade. oh yeah, you going to place it? not until i'm sure. why don't you call td ameritrade for a strategy gut check? what's that? you run it by an expert, you talk about the risk and potential profit and loss. could've used that before i hired my interior decorator. voila!

maybe a couple throw pillows would help. get a strategy gut check from our trade desk. ♪ we believe in education built for all people., - [woman] snhu was the best experience of my life. - [man] without snhu, i wouldn't be the leader i am today. - [woman] i graduated high school 19 years ago. i still finished. - [man] in the military, you feel that sense of accomplishment. that's what snhu is. - you will march from this arena and say to the world.. i did it. - [woman] you did it. i love you. - [graduate] i love you too.

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there is a new top bull on tesla. we could do this segment every day. pieper sandler, upping the price target to 928. oddly specific that's now the highest on wall street the analyst hint behind the says the note the superior products and the solar charging capabilities are reasons for the call shares for tesla up big. 6.8% up more than 117% this year.

lets talk about in guy adami i thought it was interesting the analyst laid out like a house in minneapolis with a solar roof, and a battery pack in the house, plugged into the tesla. it was one of the first calls where they talked about the whole sort of vertical ecosystem. >> and that's been brian kelly's point. years ago. brian kelly said tesla is a stock you put in the drawer and forget about it. he is correct. he has been as opposed to spot on recently. i don't know how to value this clearpy this is one i haven't been on the last 60 oh dollars or so. but when you see analysts to tim's point last night tor two nights ago now they are chasing you gifting you the highside bull thesis and maybe it's frothy on that front. with that said, i have zrp idea how to trade the stock at $917 a share. >> all right lets move on because tesla is still a range. but it was sort of all the rage. now there is one stock especially on small rae tail

investors giving the tesla rally a run for the money. virgin galactic. the stock rising again today 23%. extending its meteric rice just wanting to trade the name and main street loves it lets get to kate rooney in san francisco how the retail investor is really getting involved here. >> that's right, hey, brian, virgin galactic was the top traded stock on a few retail platforms. lets look at fidelity according to the firm virgin galactic was the most popular stock forvy dealt customers. outpacing tesla and apple. the same goes for sofi traders yesterday vrjen galactic saw by far the largest trading volume on sofi invest 14 times the historical average and more than double the previous biggest day for the space company. a relatively smaller platform but gives a sample size of what

millennials are buying the sofi trade remember 25 to 40 td ameritrade. according to the td investment mover index girj virgin galactic was a top name bought in january. continuing to see buying in february but not at the same levels virgin galactic has only been trading publicly since october and they're not expecting to turn a profitable this year. but that's not holding people back, brian. this week's trading volume nearly 10 times the daily average volume back to you. >> pretty amazing stuff. kate rooney thank you. >> by the way the company based at 166 north road runner parkway in suite 1 cp lass cruises new mexico process has $0 in revenue. effectively. >> the road runner image is of course interesting that the road runner >> off the edge of the cliff. >> seriously does anybody -- >> are people buying it for a real reason or buying it because

others. >> it's a moon shoot shot what are the ways to play in the public markets think about the way it came to the public mark. credit suisse. got behind this thing made it happen adam boehn is from twitter on the board. a great team i'm saying there is no sales some day they are taking people to space whatever. it's one of the ways to play in the public markets that simple in a mania sort of market tesla lass a market cap that's double gm and ford combined. double them. okay used to be. >> you're saying to get -- that this -- >> who knows i don't know space may be an amazing thing. >> final frontier. >> the maybe multitrillion dollar business if you could have gotten in in 2019 orp '20. >> may not be space. it may be their ability to move people faster some part of this world the one we're in but you look at valuations right now -- there is a lot of okay boomers going on tv sets around the country. but look companies have to ultimate hi make money

and buying theme atically when money is free seems nice but that's what this is. this is a play not a moon shot hey i can make 20 oh% like the 160% this year it's literally hey i want to buy into something i believe in in. >> that's great. >> that's not how you invest. >> i brought -- okay for another day. >> yeah. >> another day. >> okay. >> i brought kathy -- i brought cassidy i'm not comparing to 199 i'm kparpg the idea of the stocks are changing every couple weeks and going up two hundred and three hundred% and talking about them. >> and the float trades. >> by the way, we have a big interview coming your way next week it's the guy that dan referenced chamath joins the gang on squawk box. a clarm of virgin galactic. >> correct. >> i don't know if he gets a south road runner parkway but we will ask him about space travel. coming up we reveal who you think has the knockout on fedex.

there is time to vote. n m on the bull. daon the bear. at cnbc "fast money. back after this. aflac is auto insurance, right? no. uh uh. is it homeowner's insurance? no... uhuhuhuh! is it duck insurance? nope. ahhh! do they pay me money directly when i get sick or injured? yeah. aflac! you got it. you know aflac! boom! get help with expenses health insurance doesn't cover. get to know us at... aflac dot com.

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on fedex dan takes it we'll do another one good times. >> final trades. >> i still have to choose fedex. number one. >> xhp. >> dollar gen, breyen. >> thank you, fie. my mission is simple -- to make you money i'm here to level the playing field for all investors. there's 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'm just trying to make you some money. my job isn't just to entertain but to educate and teach you so call me at 1-800-743-cnbc. or tweet me @jimcramer. the averages rebounded nicely today