changes forever and not just temporarily and the comments were absolutely fascinating and a huge uptick in terms of engagement and will that mean people will not have to go back to bank branches and we'll have to wait and see and it has implications for all industries. we are out of time for "closing bell " melissa lee has you covered. >> tonight's trader lineup is guy adami, tim seymour, steve grasso and more troubles for the airline industry plus the gold miners and they'll break down how they're making the big move and making the bacon how breakfast is giving a nice sizzle for this food stock. the financials leading today's charge rallying 2.5% and check out this move in wells fargo, the stock climbing 7% today on reports that goldman sachs is considering acquiring the bank we don't normally talk about rumors or speculation except

when the stock moves on it and it did so tim, what's your take on the action of wells fargo and what's your take on a possible m and a deal >>. >> well, this kind of news, first of all, this rumor was out a couple of days ago in the market and the market participants didn't do anything with the move because we talked about the down move. this deal makes a lot of sense when we talk about the environment over the last couple of years for both of these players. i think this deal would be a ridiculously difficult deal even if we're going hypotheticals to get through on the regulatory side i don't think either one of these have a lot of friends in washington i do think -- and again, this is not me saying that this is just my sense of where this would be, but look, i don't think this deal is going to happen i do think goldman has continued to build out their retail platform in markets. i think wells fargo has a lot of

issues that i'm not sure goldman would want and the move we've seen and this snapback today is more in line with the banks. i think this news has been out there and you could have heard this news a year ago >> 11% low in shares of wells fargo in general aside from today's move, but when it comes to regulatory issues, not only do they face regulatory issues in terms of the ethical volations and the ethical problems they've had, and they've also got 10% and more than 10% of the markets for deposits already which makes it a very large player. >> right i don't know how much goldman's deposit share must be much lower than that. both stocks -- you can't do a cash deal this big, right? wells fargo is significantly bigger and the market cap which is 98 billion and is at more than a decade low and is significantly bigger than goldman sachs market cap they would have to do stock. they're both trading at well

below tangible book. it's hard for me to have the wells fargo board think, you know what? now is the time for us to sell that just doesn't make sense to me, but i get what tim's saying is right goldman sachs wants to sort of remake their business and have more of a commercial bank franchise than they do, but this i find really far-fetched. i think it was just -- this has been the worst performer of the banks. so maybe if we're in a bank rally it certainly has the most room to the upside. >> there's also a lot of concern that some of these banks may be forced to cut their dividend wells fargo was named as the number one most likely candidate by kbw in a recent note because they had one of the payout ratio, and it was north of 8% and they have a few other regionals on that list and citizens financial as well as others and you can see wells fargo head and shoulders above

the rest and citi is 4.9% and a lot of them have 6% yields, by the way. >> the reason for that is because of the huge move to the downside into stocks the only way to remedy that is obviously for the stock to go higher and that takes care of itself >> i don't necessarily wantto go down this wells fargo, goldman sachs rabbit hole and the last huge acquisition goldman did was 18 or so years ago when they bought spear leeds and quite frankly, respectfully that didn't work out all that well with that said, the way to trade it and tuesday we are talking about bookmarking things and it is another bookmark day and specifically for the banks and i think finally the banks have given you something to trade against and good for dan nathan and carter for being negative, but today is one of those reversal days that you have to take a hard look at and for me, goldman sachs against $82 which

was basically today's low makes a good risk reward trade going back into the next couple of weeks. do you agree, grasso >> i have a negative on the xlf and carter got it right as far as looking at some chart work there and this seems to me a little bit of hope for pie in the sky, considering that wells fargo was at the center of the government's target and bull's-eye past practices and still a big problem for wells fargo. i think people are using this as a way of getting out of their longs. i don't believe the story and even if the story is correct, there's nothing really resolved on credit losses let's remember where rates are intrr. let's remember where they're going. probably negative. i think the top sell is on value right now and specifically in the financial space, value has been what's been thrown out. it cannot be performed for longer than a handful of days so

maybe you get a couple of more days off the bottom in wells fargo, but i would sell it >> we were just talking about that value versus growth, tim and today is a trend of what we did and value did nicely >> well, again, we had to get some kind of a bounce, and if you -- one of the multiples i brought up a couple of days ago, the divergence on the p-e multiples on the forward basis of growth versus value and 25 times forward versus cane times on value at some point, i think you have to see some convergence, but the bounce in the banks today and i'm not as negative as dan and carry the have been, but good for those guys i think you get to a place here and for example, look at pnc and look at them selling their black rock stake it is 10.6%, 10.7% some of these banks can be very opportunistic in here, and if you look at the performance of

the banks as a sector, they're down twef12.5% since the group reported earnings on april 13th through 16th and started that with j.p. morgan that's because these banks and maybe rightly so threw huge provisions out there and some of these banks are going to be armed with balance sheet and i'm not saying that the environment changes overnight, but some of these banks are being painted with the brush and it is a good time for stock picking. >> great to have you with us do you also dismiss, our traders and goldman sachs or wells fargo report and if not goldman-wells what other deals could there, might there be in your space >> yes i'm in the camp that dismisses that rumor as well and the reason is a couple of points first and foremost, you are talking about two banks. i don't think the regulators would allow two banks to merge

number two, we are also in the middle of a reselgdz and you go back to '08 and '09 and the only types of deals that are done in recession are the distress deals and you don't price the assets of either company, very unlikely longer term, goldman, i think, looks at the model that j.p. morgan has built and likes that model and i'm in the camp that i would dismiss that rumor that's not likely to happen >> what would goldman be interested in buying in your view >> what they are trying to do is they're trying to grow traditional market banking business they also have the deal with apple for the credit card business and that's consumer lending. they're building out their transactional commercial business where they're going to be offering treasury products to their corporate customers and they're building up their corporate loan book. so when you look at the diversity that bankamerica has under brian moynihan, they have diversified revenue streams of

not only capital markets and the investment banking revenues and also consumer revenues and commercial revenues, and i believe that's the ultimate goal of goldman sachs is getting into that type of model >> in thiss environment, stock picking will be difficult, and what are your top picks, gerard? >> i think top picks will be important because some banks will behave and work better because of the underlying credit quality and one of the best things investors can own is bank of america the valuation is very attractive and moynihan has led to the recovery in that bank and has built a conservative balance sheet and that is very important in this type of environment. another bank that i think is very strong is this truist truist is the merger of bbnt and suntrust they have enormous cost savings coming and not only that, they've been able to build up their loan loss reserves more effectively than other banks in

preparation of the problems that the banks will have in the second half of the year. if people want to take on some risk, this pnc story has blackrock investment and they can build out their franchise over the next 12 months. >> are there regional banks that have specific exposures to different industries that are hit the heest, gerard. >> is that the assumption? >> that say really good question we know from experience if they are hit hard as the pleasure sector, we have to be careful to own stocks -- fortunately, neb has big oaks poeshures that could be problematic it is small and manageable, with

we look at what happened -- >> i just got dropped. >> to me it's energy and the leisure sector and none of the big banks have excessive exposure that would make us very concerned. >> gerard, we will leave it there. thanks so much for your time >> gerard cassidy of rbc capital markets. some may be thrown out with the bathwater, tim i am curious if you're finding opportunities since you advocated stock picking specifically for banks >> yeah. i think so remember, was there a time before the suntrust bbnt when we thought there was a flood of marriages of complimentary strengths. i think you also look at the money center banks and my point is that i think they were very conservative i know it's impossible to know on where they threw those loan provisions up and they were

certainly putting them up there in excess in many cases of where we were in 2008 and 2009 so i think not every money center bank is created equal, but back to j.p. morgan which is best of breed which has been very conservative in how they've built this business, i think for investors that are taking a median turn view, this is exactly in a crisis like this where you get great opportunities with great franchises. >> karen, i believe we know where you stand when it comes to j.p. morgan. are there other financials that you own? >> i do. i own bank of america. i think -- most of my money is in j.p. morgan, bank of america and citibank also and i am starting to look a little bit at german financials which obviously have had just a very, very difficult run, but -- some of them are trading really like options at this point. like which one >> that really caught me off guard. german financials.

i didn't think those two words would come out of your mouth in that combination >> they rarely do, actually. so a deutsche bank, a commerce bank i'll look at that. i haven't done anything yet. i don't have positions there, but clearly we've seen how negative rates can hurt banks, right? those are two examples, but they've really just gotten annihilated. they're so cheap the value part of it makes me interested. >> guy adami, i'll go to you so many places to go her. >> hi, mel >> hey, guy. gerard's top pick is bac karen is looking at german financials >> yeah. it's interesting i think karen would agree and i don't necessarily know if a deutsch or commerce bank can be a long-term investment maybe they can, and i've been pretty steadfast in my disbelief and dislike of german banks specifically and deutsch for quite some time. in terms of the bigger banks,

citi's trading at a huge discount to book value, i mean a ridiculous one and maybe that's trying to tell you something and j.p. morgan, the reversal today on decent volume and percentage wise that's a pretty significant move so if you're asking me to play the would you rather game, deutsch, commerz, bac, it's jpm. >> we have breaking news here from the new york stock exchange nyse president stacy cunningham running an op ed in "the wall street journal" saying the exchange will start opening on may 26th, this following strict social distancing guidelines grasso, will you be there may 26th, the day after memorial day and what are some of these guidelines i'm assuming that i'll be there and i'm assuming that there will be medical testing and six feet away from each other and limited amounts of personnel from one firm to another firm, obviously

facial covering and we'll play it by ear from there and i will most likely, god willing, i will be there as well. >> what have you gotten -- have you gotten anything directly from the nyse, goeso or is this the first that you're hearing? this is, by the way by stacy cunningham and published in "the wall street journal" this afternoon. >> i was not on the call my partners were on the call because we have our show to prepare for, but i'm sure they're not going to allow people to travel on mass transit because there's too much gray area there and too much exposure risk there and i think it is a very controlled environment. they'll take it one step at a time and they will not open unless they're very confident about reopening. so they must be very confident about reopening on the 26th. >> if the symbol of wall street is opening, reopening, i should say, guy adami are you optimistic that there will be trading floors again,

that people will be going to the cme, the list goes on and on >> i think we'll see that. i think a large part and the rally we saw today was predicated on that i think there was news out of new jersey about beaches open. i think the markets sort of got itself together on the back of those news yeah i'm optimistic that at some point we'll get back to some sense of normalcy, but getting back to full normalcy, i think we're a long ways away this is a good start, but it's a start. >> all right >> only. >> coming up, shares of applied materials hitting after-hour session highs on earnings and we'll break down the results from the chip equipmentmaker plus casino stocks hitting the jackpot day toand we'll find out what is behind the move when "fast money" returns

there are times when our need to connect really matters. to keep customers and employees in the know. to keep business moving. comcast business is prepared for times like these. powered by the nation's largest gig-speed network. to help give you the speed, reliability, and security you need. tools to manage your business from any device, anywhere. and a team of experts - here for you 24/7. we've always believed in the power of working together. that's why, when every connection counts... you can count on us.

welcome back to "fast money. we have an earnings alert, and applied materials on results and josh lipton has a breakdown of the quarter. josh >> melissa, i covered with mitch steves that was better than he thought and display segment up sequentially a positive and the company still seeing strong demand and we also got the news that tsmc is building a fab in the u.s. and the journalist saying that tsmc will announce as soon as tomorrow plans to build an advanced ship factory in arizona and mitch steves is saying that could be announced for certain names in his semiequipment names and applied materials would be one of them and notably the company did not provide guidance and the ceo gary dickerson saying the situation is fluid, but based on

the visibility and what he's seeing now, supply chain is recovering and the underlying demand remains robust. on the call dickerson saying in q2 they were impacted by the lockdown which impacted suppliers and that particularly hit the segment and dickerson saying we are in a much better position today there are pockets of weakness and called out what's happening in autos and industrials consumer spending, he says and the potential headwind and the pandemic and we noted from a lot of tech ceos accelerating adoption and given what's happening with learn from home, bottom line, underlying demand is robust. our business, he says can deliver double-digit growth for the fiscal year. >> thank you, josh lipton. a pretty stunning move from amat with a 5% move in the after-hours session that startsed in the early afternoonish tim, what do you think of amat

>> they'd already pulled guidance you had some sense if you listened to the peers and they continue to say this is more of a supply side issue and not necessarily as much of a demand side and there's clearly a fair amount of uncertainty in the second half of the year and the questions about the department of commerce announcement and that creates some complications, but again, semisystems are most of the revenue base and somewhat mixed between dram and i think this is the same story with some of the semis and you've had the bricks and mortar that have traded okay, but overall semis have outperformed relative to the cyclical headwinds i don't need to do anything with this one based upon still a lot of uncertainty and if so, i would prefer something like an intel. >> top pick in chips, guy? >> i think intel's right and amd if you saw the move today, i think those two and quickly on

amat, they see robust demand and those two to me are somewhat inkong ai incon gruous, but i'm not the ceo of a company you go back to the $70 high in february and the recent low and this is basically a spot-on 50% correction and i think you take the opportunity if you've been in the name for the last few weeks and elsewhere for me would be amd >> let's switch gears and check out shares of mgm as they plan to reopen the las vegas hotel at 25% capacity so could you gamble on these casino stocks right here, grasso >> yeah. this is one that i've stayed pretty consistent on if you have to be here there's nothing that's going to look the same we hear from restaurants we hear from airlines. nothing will look the same you talked about this whenever we talked about the casinos and what's the tables -- what are the tables going to look like? what are the slots going to look

like you have to play with your gut and play with what you like. las vegas, lvs, is the one that i would say to risk it on, but i don't have to be in the casino space. i think there's tremendous amounts of headwinds the business is not going to looker inially what looker in nearly how we entered the coronavirus and who knows five years from now. >> you won't have the convention and conference business coming back for a very long time to las vegas. how do you think associations and trade fairs will say, you know what? let's actually have a convention where we all get together physically and let's have it in las vegas. guy, i don't know. if you decided today, that's still aier out >> yeah, and you can harken back to president obama's quick line about that decimated las vegas about conferences many, many years ago and what you're talking about is very similar and different reason, obviously.

it doesn't repair itself overnight and one thing, you go back and look at wynn and wynn bottomed out march 15th and four or five days prior to that low we started talking in early april how wynn was trading well and we said that basically on nothing but just things improving slightly, this is a stock that got up to between $85 and $90 and quite frankly, you're now in the period of time that you're starting to be in the 30% re-opening and i'm sort of with steve on this one. in terms of wynn, i think you would try to buy it back if it traded $70. >> are they the same arguments that you would say that's why hotels won't do well for dwight some time. that's yet cruise ships won't do well for quite some time >> somewhat.

it boggles my mind that cruise ships are taking bookings for next year. i think that i don't -- i don't know the transportation part of getting to las vegas if we are looking at a geography or people will start to fly in the near-term and i also wonder at what point does low capacity actually cost more than being closed you know, you have to have people there to work, and have a functioning casino, and i understand you can't open it all right away and that's off the table. i just think you are grinding toward hard times that i think will be changed for a while and a couple of years down the road, we will have conferences, and i really believe that people want to be together and they want to meet. >> coming up, the airlines heading new headwinds today and one top-ranked analyst says

there is still opportunity in the space. we'll bring you names that could be ready for takeoff and later, gold mining stocks among the big movers today will their run continue? "fast money" is back in two. ♪ happy birthday! so, it goes... ♪ hold up your answers. how is mickey doing today? ♪ you're just a really hard worker. ♪ ♪

♪ ♪ - [female vo] restaurants are facing a crisis. and they're counting on your takeout and delivery orders to make it through. grubhub. together we can help save the restaurants we love. confident financial plans, calming financial plans, complete financial plans.

they're all possible with a cfp® professional. find yours at letsmakeaplan.org. >> welcome back to "fast money," delta says it could be overstaffed by as many as 7,000 pilot comes this fall. they've got 14,000 pilots so that's a big difference there. phil lebeau is in chicago with more >> melissa, we'll talk about the delta story in just a bit, but i want to bring you up to speed on some news that crossed in the last 15 minutes. rick defazio runs the house transportation committee and he has sent this letter to the ceos of the airlines essentially saying, keep the middle seat

open you said you were going to do it, now do it, he wants the airlines to limit their capacity to 67% full. in other words, the plane would have one-third of the seats empty. we'll talk about that in a bit now to the delta story and it all ties in to whether or not the airlines can function profitably and when it comes to pilots they simply have too many at delta the 14,000 pilots are 7,000 more than they will need in the fall of this year by next year, they expect by the third quarter of 2021 they will have 2500 to 3500 more pilots than needed. remember, delta is currently burning through about $50 million a day and when you take a look at the airline stocks they are all on pace for having just a horrific first half of this year as a group, this is a group that right now burned through $10 billion in the month of april and they're all trying to bring the cash burn rate down and it's being tough because

they're not booking many passengers and right now their passenger loads are 93% compared to where they were at this time last year, and it is on pace for its worst year ever. melissa, it will be interesting to see whether this letter from representative did i fazio forces the airlines to keep those planes two-thirds full if that, because they'll struggle if travel comes back later this year >> are there implications in the letter where defazio is asserting you should do this and operate at 67% capacity because we loaned you money. webailed you out >> he mentions the fact that they received a government bailout and he also takes a swipe at the president saying this is an ill-conceived plan in terms of how the airlines -- the bailout was structured for them. he does say look, if you have to raise your fares commensurate with the fact that you will not fill the seat, go ahead and

raise the fares and i know what people are saying, go ahead and jack up a fare by 40%, 50%, 60%, if you're running an airline it's tough enough to convince people to fly and now you'll want to add $130 bucks a ticket? do you think they'll want to pay that they were designed to fill as many seats as possible and now you're asking them to change their business model. >> the fares go up two times phil and there will be letters complaining about that phil lebeau, thank you, in chicago. >> let's now bring in a top-ranked airline analyst, helane becker. i want to get your reaction about the letter from peter defazio from the airline ceo and they assumed they could fill the seat of the 67% capacity >> what does that do to the

airlines >> thanks for having me on, melissa. it's -- they won't make money. plain and simple they can't do that sustainably they can do it for a few months. they can't even do it a minute or so to raise fares and it has the effect and discouraging demand and they would be self-limiting and they would sell fewer tickets anyway that would have some middle seats open the other solution is to offer people to buy the middle seat, but you saw the reaction that got last week when frontier airlines did that. >> karen's got a question. karen? >> i do. what about the regional jets that have the single aisle, there is no middle seat. what is the configuration going to be for those? >> yeah. that's a good question, karen. i don't know the answer to that. my suspicion is it's like a in

this row, a and d, you know what i mean like, two seats per row because i don't know how else they would do it with no middle seat. >> what's the path forward, helane for the airline. >> that's 50% capacity. >> right right. >> that's already 50%. >> what is the rule going forward at this point? there are demands that they don't pack the planes. the business model, i don't know if the business model can even work if they don't try and pack planes and then you have delta cutting back pilots. i mean, what can the airlines do in this coronavirus pandemic environment to operate and remain growing concerns. >> i have ptsd from that, from thinking about that so here's my thought in terms of how to go forward. this will not last forever, number one there are very smart people as you have on your programs and

working on viruses and treatment and so on and it will get resolved at some point that's number one. number two is say in the next two to five years because it will take two to five years to get back to 2019 traffic levels. when you think about that and you think about people getting back on planes let's just think about the that the idea that the first stuff has to open again and then people will want to travel and visiting friends and relatives will come back, i think, faster. i think people will travel and want to get out of their homes having been locked down for so long and you see that as the state is in. i think what's going to happen is domestic short haul comes back first and then domestic regional and hotels open, and international is probably two or

three i way day away you're not going to see that international travel and that's what you're seeing from delta, and they might be the only ones out there way plan >> a week ago te just went to united where thai had a scorched earth behind it. we estimate 8,000 aircraft will be permanently parked by the end of this year and 150,000 to 200,000 people will lose their job. i think the airlines are going to try to do it through voluntary means like early retirements things like that as opposed to doing involuntary leave because that is so painful for people. >> right guy has a question >> yeah.

guy? >> yeah. i mean -- how are you? thanks for being here. the boeing ceo, mr. calhoun made a comment and it was in response to a question so i don't want to go far down this habit hole, but he basically said i'm paraphrasing one of the carriers would go out of business or go bankrupt do you think he misspoke or do you think there's truth there? >> no. that's truth there that's our concern, too, of course what we have said publicly and what we have written is you are not going to see abankruptcy this year because there's thin money given to the airlines by the government, and i don't call it a bailout i know everybody does, and i do, too, from time to time, but i look at it as an unemployment program that's being administered by the airlines on behalf of the government because this money isn't designed to bail out shareholders or bondholders. this money is designed to pay their employees for six months because the prudent decision if

you were ceo was to ground as much aircraft as possible to promotecapital and furlough as many people as possible to preserve capital and that's not what they're doing and not what they want to do. >> can are did that answer guy's question in. >> yes, it does. >> helane, always great to have you and speak with you thank you for your time. >> of cowan and company. as people may not want to hear that, that is the truth because if you are a business and nobody is buying your product, what do you do you don't keep paying your workers indefinitely you don't keep running these airplanes. you have to conserve cash immediately and that's not what is happening with this bailout loan, grant, whatever you want to call it we're delaying the inevitable and and we'll lay people and

delaying the pain that are that he'd felt and by the people woring at airlines. >> also, airlines are vilified for running for profit which is what they've done for the last five years >> we have to be clear, we want airlines to be more efficient and focused and helane talked about this this will come back to some semblance of normal and who can hold through and delta is the one that they'll have $10 billion bill been in cash, and demographics, their best customers and not going as far as the lower carrier and lower budget stuff and they'll go for whatever is out there and it may mean less flights and it's how they survived and it will be the right strategy >> steve

i agree with tim delta and southwest were the only ones that entered into this with investment grade debt across credit rating agencies. so you have to stick there, and with our guest, the domestic flights will come back sooner than international ual has the biggest leverage to asia, so i'd stay away and date and strong wens look past thian one thing that is often talked about is how people conduct business, karen, in terms of meetings not having to make that flight to wherever to have that one meeting or those three meetings, and if we are to say that things are going to change in terms of businesses and if you take that part of the equation out permanently, that

is a fundamental change to the business model for the airlines that they operated under pre-pandemic >> right i mean, that's, you know, a big portion of the business gone but i think we talk about the equities and then there's the business so an airline can go under, right? we saw it in '08 and '089. auto companies went under and yet they did survive, they did restructure they were able to continue as a business and keep people employed so i'm hopeful that even if we see bankruptcies that they'll still be viable businesses there underneath and they'll operate with less debt, but smaller because some of that demand has gone away >> guy, last thought here? >> listen, history is littered with disastrous outcomes born from good intentions in term of the stock which is

really why, ask it breached the lertd whatever, was volume delta really set up well today and that's the place i would look. >> coming up, we are serving up a triple play of food stocks that will make your mouth water. >> the wild and wacky new investment opportunities in the ayt homework from home trade. stay tuned california phones offers free specialized phones... like cordless phones,

- (phone ringing) - big button, and volume-enhanced phones. get details on this state program. call or visit

and accessoriesphones for your mobile phone. like this device to increase volume on your cell phone. - ( phone ringing ) - get details on this state program call or visit welcome back to "fast money. hungry for gaining well good because order's up we have a bullish trio

piper jaffray on cmg and more people are staying at home and more people are cooking and that requires spices. guy, which call sticks out to you? >> for me, i mean, you know i'm a huge baker as you know and mccormick is a name we've actually talked about, and i think if i'm not mistaken that stock made a new 52-week high today and valuation is a concern without question, but i've got to tell you something. all these folks that are working about spices and baking they're not going to magically forget six months from now. this might be one of the trends and if you're asking me would you rather in the food space which you clearly were it's mccormick and get that paprika, folks. it's good stuff. >> i tried ordering cumin. is sold out everywhere who would have thought, karen? >> well, i wouldn't have thought. i wouldn't have known to order it in the first place, but --

it's crazy times >> i went to karen because she doesn't cook i thought that would be funny. >> they're now up double digits on the year and traders are digging in on the big rally and big banks and options traders are ttg beinfor one name in the space and we have much more coming up on "fast money." tastes great! high protein. low sugar. so good. high protein. low sugar. mmm, birthday cake. pure protein. the best combination to help you stay fit.

truly transformative sleep. so, no more tossing and turning. because only tempur-pedic adapts and responds to your body... ...so you get deep, uninterrupted sleep. during the tempur-pedic summer of sleep, all tempur-pedic mattresses are on sale!

welcome back to "fast money. shares of gold miners topping the trade with the gtx rising and now up more than 80% from the lows of the year harmony gold and newmont outpacing the market guy, what's going on here? >> stay with it. what's going on is everything

that we've talked about literally since september 17th when the overnight fed repo blew up and we talked about the reasons to be in gold and now you see president trump respectfully touting negative rates and just all of the things that are out there in terms of central bank activity all steers its way towards gold so that story's not changing and newmont mining just keeps chugging along, every single, meaningful sell-off in the last six months has been met by incredible demand, and i think you need to stay with the stocks and as much as they appear to be overdone i don't think they are, mel. >> steve grasso, do you like the miners >> i do usually what you will see is miners will outperform the met alibi two or three to one and we aren't seeing that this time around and the miners were underperforming and now they're just starting to make up some ground so i think you have some room on this trade, on the gdx and the

miners etf i think you can roll with it a little bit and to guy's point, you have central banks around the world just printing an excessive amount of money and we always think that should translate tohigher gold prices and then it fades. this time we've never seen anything like this before and that that's why i think that gold will really have some tailwinds going forward not just for the couple of months, but for the next couple of years. >> tim, where do you go on gold? >> i think all of the reasons he's guys have talked about gold should go higher i do think we have priced in this environment, however, and i do think we priced in central banks and i think we priced in liquidity and where it is. i'm not telling you gold can't get to 2,000, but it's not a straight line and i think the minute we start to see some recovery here and i think we get back into it and we'll obviously have fits and starts, but gold is something that will be one of the first things to sell off i think people chase gold often

right at the wrong time and i wouldn't be chasing the gold miners here. 115% move off the bottom on the gdx and those intra-day lows and newmont is the best of breed and you need to pay down some debt and i still think a lot of these miners are not terribly efficient and run well even though they're run better than they were so i'm not one chasing this tree. >> wells fargo surging along the rest of the financials today and options traders are thinking the run is far from over don't go anywhere. much more fast right after this. (vo) our communities need help like never before

and wells fargo employees are assisting millions of customers across america through fee waivers and payment deferrals, helping people stay in their homes through mortgage payment relief efforts and donating $175 million dollars to help hundreds of local organizations provide food and other critical needs... when you need us, wells fargo is here to help.

welcome back to "fast money. another check of bank stocks in today's session. options traders are betting today's bounceback could be a step for an even bigger rally for the big banks. mike khouw has the action. hi, mike >> hi, melissa wells fargo traded more than three times its average daily total options and most of those were bullish and it was 3-2 and while a lot of that activity was basically expecting the move from today to follow on tomorrow with the options that expire tomorrow we did see some longer-dated trading and the june 25 calls were the ones that caught my eye and they were

paying about $1.40 for those and buyers for those are betting that wells fargo could rally another 10% by june expiration we have to bear in mind, wells fargo has been severely punished and this is a way that people can make a bullish bet without risking a great deal >> be sure to tune into the full show that is tomorrow at 5:30 p.m. eastern time still ahead, makeup, shaving cream and pants. how the work from home boom is sparking a whole new world of stnt opportunities we'll give you the trades when "fast money" returns ♪ ♪ ♪ ♪ ♪

♪ ♪ make it tough to take care of yourself, that's why you can rely on nature's bounty... to give you the support you need... to stay motivated keep active and sleep well. add a little more health to your day... with nature's bounty.

welcome back to "fast

money. it's no surprise that the shift from working from home has changed your routine, but just how much 54% of women have stopped wearing makeup entirely. 70% of people are shaving less or not at all and 75% are taking their zoom calls in their pajamas or leggings. 10% are only wearing underwear 10% only wearing underwear >> yeah, baby! >> sometimes you just can't unsee things that got us thinking, what are the trades here out of this, because if this is a trend and more people are working from home, maybe they are buying fewer lipsticks, karen, or shaving blades or whatever it is. >> yeah. i think so for me the trade is lululemon which i am long despite it being very expensive because it was trading like a retailer that was going to survive and do very well, and i think it should be trading like a covid winner

because -- i mean, i personally resent wearing pants now that are, you know, more formal and who knows how long it will be like this and i see the peloton revenue, and they already had a great online presence already so for me, lulu lemon. >> i, too, am against wearing structured pants and in favor of the athleisure trend steve grasso, i know what you've got on there can't unsee it >>. >> i think you guys are right and i can't imagine. you know what those lines look like in lulu lemon and i can't imagine that we'll see those lines anymore, and i would probably take some profitsin lulu, and it's always frowned upon based on valuation, and i think that this is probably as good as it gets near-term if we're starting to restart the economy. >> i love it when guys are

saying oh, i'm going to work from home and they go on zoom calls and videoconference calls and they don't shave and they've all got beards on. they sell razors in the store still and you can still buy razors in quarantine >> my shaving habits have not changed. i'm a monday, thursday shaver as the audience knows nothing has changed for me i'm knotted up i'm still rolling like i used to i'm with finerman on lululemon, this bottomed out at 128 and if you recall joker, joker and the triple this sucker will double by earnings which means 128 to 256. >> let's do quick final trades tim seymour? >> double covered by a lot of makeup here. j.p. morgan, best in breed bank, and i think again, this is one of those opportunities where you're looking at with some medium term horizon you will love j.p. morgan here. >> steve

>> shake shack this one's trading like we're never restarting the economy >> shake shack >> karen >> bank of america for me. >> guy >> delta for a trade. >> thanks for watching fast. "mad money" starts right now >> my mission is simple, and, and i promise to help you find it mad money starts now ♪ ♪ >> hey, i'm cramer welcome to "mad money," welcome to cramerica people want to make friends and i'm just trying to make you money and my job is not just to entertain, but to educate and teach and call me at