beginning. sti we haven't quite proven we can get above even last week's highs. >> morgan, thanks for joining us today. s&p closed up 1.5% today "fast money" starts right now. i'm melissa lee. guy adami, dan nathan and steve grasso break out your rally caps. stocks are heading back to all-time high bs by the end of this year. fedex stock surging in after hours. the company's call is just kicking off. we're bringing you the headlines. later dan is taking the mound to pitch his next big idea why he says this stock is ready to fly. we start off with a big rally on wall street, stocks surging to end the quarter what a quarter it's been

the s&p 500 posting best quarterly performance since before 1998. let's go back in time to q 4 of 1998 the index finished the quarter of 19.95%. in december of 1998 the employment rate stood at 4.4%. today we are at 13%. back in the day u.s. gdp growth was 6.6 importan%. back then it was 5%. why are we playing this song we have a few britney spears fans "the big lebowski" one of the biggest movies back in 1998. the party ended with the dotcom

bubble burst what happens now, guy? >> can i start the game with a would you rather >> there is no game. go ahead >> would you rather go see britney spears in concert assuming we can go see concerts? or go to amc and watch rerun of "the big lebowski" i know where i stand. >> i'd go with the dude. >> you know something, someone's in your ear right now telling you because you never saw "the big lebowski". >> all right i read about it. anyway, go on. >> listen, good for the market unbelievable quarter, half year end, whole thing goes out on a high note. it's fantastic you can't attribute it to much more in my opinion than this fed

backstop that everybody is pretty convinced we have quite frankly the news on the covid front doesn't seem to get any better fedex had a great quarter. good for them. on the margins the market gets more expensive by the day. i see why we're going higher we defended that 3,000 level we talked about the reversal yesterday. those are all really good things it continues to be a buyer beware for me. >> steve >> if you compare it to '98 then you have to compare it to '08. >> we picked 98 because it was the best performance since 98. you make your own comparison. >> if you compare it to 98 you're saying this is the best quarter since that but the first quarter was the worst quarter since 2008 i'm trying to figure out where we're going after this it's sort of pick your poison.

i would say this looks like 2008 and the rebound. this was a forced fall, if you will we're much closer to a vaccine than when we first started i would have to assume that the markets are going to reflect that if the markets reflect that, the mis get better, the world gets better, eventually we recover and the market acts in kind. it's not going to be a quick spike higher but i don't think we're going to see a collapse like we did after the '98. i know what the next step would be, where we fell after '98. >> dan >> i just think what we have going on right now, i don't really care about 98 of 2008 what's really important is what does unemployment look like in

the back half of this year and 2021 structurally some very big things changed in our economy in just the last four months. when you think about what's been happening to small businesses despite all of the fiscal stimulus and all of the assistance they've gotten on the monetary side, it's really going to change things for the next year to 18 months. a lot of deficiencies have been realized by a lot of companies are going to keep unemployment very high. i go back to 2009 where unemployment topped out at about 10% after the worst financial crisis we've had since the great depression at that point you could say obviously this is the deepest recession we've had since the great depression also. but i just think fundamentally things have changed a great deal i think the jobs report this thursday is going to be really important to see if that unemployment rate ticks back up there. listen, the market ripped on the number at the end of may when

the number was surprisingly lower. to me, i think it really relies on unemployment here i don't think we have any clear vision into what that looks like, but i suspect it stays very high for at least the next year or so. >> let's say it stays high but it doesn't get worse is that all the market needs to keep climbing or at least remain stable >> yeah, i think so. when you talk about 1998 the most important thing is, to me, that that was the year that after the asian financial crisis and the russian financial crisis long-term capital blew up. you had the first orchestrated bailout by the federal reserve since then it's been a story of fed bailouts and it's gotten absurd that's exactly the analog to today. that's why 1998 is important we had that quarter because the market was down 25% over the summer and then essentially you

got every bailout that markets, it was a new concept back then and it's with us today the most important thing for the markets right now is this flood of liquidity and the expectation of more stimulus is enough whether it gets done or not. i think, yes, i think the data points which dan's pointing out we've got some enormous data out in the next couple of days here and around the world with the fed and liquidity where they are and no sign of ever removing emergency funding despite what he said yesterday, i think markets have to go higher. >> so it's a bubble? i mean with the fed pumping liquidity into the system, it's a bubble. >> yeah. >> what will pop that bubble if the fed is always going to be there? >> i wish i could answer that. they'd write books about me in the years to come. they might do that anyway. i don't know there's so many things that have happened over the last six months that i thought could have been nothing seems to matter. i still think the u.s./china relationship is potentially a

bit of a powder keg. we don't even talk about te electithe election coming up in 4 1/2 months there's so many things out there that can move it i think right now the market seems to think the fed has their back and they've been correct to think that i'll say this. jerome powell said when the time is right they'll put the tools back in the toolbox. no, they won't i won't saya lot of things but no, they won't they tried to put the tools back in the toolbox in october of 2018 and you saw what happened there. the market called their bluff and they brought the tools right back out they're at a point where they can jawbone all they want about putting the tools back they're in this now and for the long-term. i'll say i think we're going to get to a point where diminishing marginal returns in terms of what the federal reserve can do for it. >> the tools don't fit in the box anymore. they tried, they failed and the tools just got bigger and

stronger and did more heavy lifting. i don't know how you take that back >> i think what's really clear here and some very smart people that i talked to on mmt, it comes down to scarcity of risk assets you saw that sotheby's art sale last night things went record after record. people are dying to put their cash into hard assets. liquid assets, it's really the stock market guy and i have been talking about this a lot if you see it break that march 9th low, 50 basis points was the close, 31 on the intraday. i think this is a lot of things that won't like that price action you just said we're in it for the long haul. the analogy would be japan, who's been in it for the long haul look what happened to their banking sector it's down 80% in the last two or three decades. jp morgan today at $94

underperforming the broad market, i think it's telling you that the back half of this year is not going nearly as rosy as the second quarter i also think that about rates. keep piling into the maga and this high growth winners of the pandemic that's fine. people are making a lot of martin luther king, jr. doi money doing that i'd rather look at jp morgan than zoom to get a sense of where this market is going the back half of this year. >> first half, wild first half in the books officially. we thought it would be a great time to map out the rest of 2020 with the chart master as we head into this back head. carter worth is here to lay them out. hi, carter. >> it's definitely a bubble. there is an expression, the fix is in. the fed reserve believes they had fixed it we shall see nobody is bigger than the market we're looking at three excellent things, if you will. not that i say they're

excellent, but their charts are excellent. a conventional buy, a bearish to bullish buy and a stay long-be long buy let's look at the first chart. this is ibb. it goes back to 2009 you can see it from 25 to 150. then this tight range in which biotech has been mired for the better part of three years and they're justs now breaking out above the tops of that it's a convention generally agreed upon what a breakout is that's exactly what is going on here one area that i think is quite good for the second half second chart is a little bearish to bullish reversal buy. it's silver. it peaked in 2011 at almost 50 then collapsed we've been carting on the bottom ever since bear to bull, however you want to call it but this is also what i would

characterize as something that's going to be quite good in the second half. $18 about today and i think much high i higher finally the third chart, the royalty of health care this is thermo fisher and danaher plotted together on a buy chart. if you're not present, get present. if you are present, stay and enjoy. look how steady they are keep in mind you see the appreciation there over a five-year period, 107% what the s&p has done is 49. these stocks are better than the qqq. wait a minute, then they're overdone here's the best part guess what their beta is pmo has a beta of .84 and danaher of .87 meaning they have lower beta than the market

they're outperforming not only the market but the qqq >> carter, always great to speak with you carter braxton worth of cornerstone macro. so ibb, silver or the royalty of health care, grass row, which one would you go for >> ibb you got amgen, gilead, biogen. i'd rather be more versatile, mute my risk as i said before, the vaccine is around the corner. it's a matter of six, eight, 12 months all of these will benefit tr frm tha that it would be ibb. >> i agree with steve but i don't agree with steve i like the ibb too because i think these are companies that

have at tratractive valuations relative to the market they have fantastic balance sheets this is a five-year breakout on the ibb. i'd rather go with that case, carter you have a dynamic here where, if anything, i don't necessarily agree that a vaccine is going to be a catalyst to the sector or even one specific stock. we don't really know what the costs are going to be or the benefits again, in that myriad of choices, i definitely think ibb is breaking out and you stay there. >> we'll take a look at big winners and losers in q2 this paves the way for one of our favorite games >> trade it or fade it. >> let's start off with paypal at 82% this quarter. tim, trade it or fade it >> you know, i reluctantly trade

it i'm reluctant because the stock is up 40% boabove pre-pandemic highs. they added 7.4 million new users in april there's no question that contactless payments pandemic based and also around before the pandemic stay with them >> i'm going to fade this one here listen, i think all of us have been on this train we all thought this is a secular shift that you cannot avoid. it's important to note when you talk about contactless payments. venmo is not that device you're using to buy things. it's a peer-to-peer thing. this is a stock that broke out above 125 and now we're looking at 175

this is in a matter of months. i think at ten times sales, up 110% from those lows, i'm saying you're going to have a better opportunity to buy this. i think you can continue to wade into this. there's lots of different ways to play contactless payments i'm not sure venmo is it. >> sdx up 71% since the start of the quarter. guy, trade it or fade it >> trade it. i'm going to play the game correctly. i'm upset they didn't fire the trade it or fade it graphic or whatever >> that's your favorite part, right? >> i could listen to that on a loop i often do, by the way, after the show is over, but i digress. trade it good for tim seymour been on the back of this for a while. i think commodities are going higher, i think copper will go higher playing the game correctly, i would say trade it

>> you do a fine job of doing the audio, guy lenar big this quarter trade it or fade it? >> i think that everybody is in place. i think you trade the home builders here. i was looking to fade them earlier in this pandemic period. they are cheap rates are staying low. there are certain shifts away from urbanization that benefit these guys to me, given the valuation, liquidity, rates and some of the shifts that are likely to be around, you probably can get long even after these massive runs off their march lows >> i'm going to have to play this game correctly and i'm going to have to fade these. i think home builders are really on the expectations that the market has fallen apart under the consumer the consumer is potentially in a better place at least with stimulus and the fed reserve very low rates aren't

necessarily going to be enough for housing. we've seen that for the last five years nice run on home builders but i'm not chasing them here. >> we'll hit ge finishing the quarter in the red down 14%. steve, tradeit or fade it? >> i would trade this one. if you have to think about when the economy recovers, it's not if, it's when. when economy recovers what's going to be better, aviation and power. pmis are better. the entry point, you're under $7 you have the ability to have a double in this stock or at least a 30% gain rather quickly once the economy recoughkocourecovers i would be a trader of ge? >> guy, would you trade it or fade it? >> oh. >> you said it was your

favorite. >> it is my favorite at this price point it's probably worth a flier in this environment. i'm disappointed it hasn't moved higher we talked about danaher earlier. now you have some danaher dna in ge danaher was named after a creek in montana that the rails brothers were fishing on that is the more you know. you can fire that graphic if you want as well if you have it handy. ♪ >> "fast money" classic. >> it's not a dime. >> we've got to move on. we have an earnings alert on fedex, the stock soaring in the after hours session. >> that's been handling much of this increased demand due to covid-19 fedex ground seeing volumes

increase by 23%. much of that was at less profitable b to c. operating margin falling year over year because of that b to c increase shock and awe in a good way. people were bracing for something like 6 or 7% margin for ground the express margins more than doubled sequentially one of the knocks on this company is they've been overspending on cap ex a $1 billion decline the company saying every single line item was impacted by covid-19 that includes a $125 million increase in operating cost, much of that to buy ppe for employees. fedex declining to offer four-year guidance because of the uncertainty of the virus ups with a surcharge of large retail customers, a move

expected to generate 50 million for ups in june alone. back over to you >> steve grasso, better than expected quarter, bigger than expected move as predicted by the options market here in the after hours. >> when i look at it on our chart right now, it hasn't maintained above the 200-day moving average for any length of time since the middle of 2018. the 200-day moving average is let's call it 141. last sale is 152.65. i would probably sell this move thinking it's going to come back in range back to that 200-day moving average or thereabouts. i'd be a seller. >> one theory is put forth by citi group when they raised their price target a week or so ago to 160 a share is that with all the reopenings b to b business will be picking up. there's really upside once you get past the roughest part of

the year dan, what do you think >> this is one that as of today's close was down 50% from its january 2018 highs there's a whole host of issues sfoesk th specific to this company earnings were down about 45 prn% from the peak in 2018. earnings revision after earnings revision have pounds this thing down if they do have an inflection on that ground margin, that's where i think investors really want to see. it's a cheap stock, then you put together the optimism about a global recovery and you don't get to buy too many brands like this down 50% or so. i kind of agree with steve, up $12-13, up 10% or so on one clip without full-year guidance, you probably get a shot for this thing to settle back in a bit. coming up, the race for coronavirus vaccine is on but the fda could slow things down

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once you activate, you'll only have to pay for the data you need- starting at just $15 a month. there are no term contracts, no activation fees, and no credit check on the first two lines. get a $50 prepaid card when you switch. 5g is now included with all new data options. switch and save hundreds. xfinity mobile. welcome back to "fast money. we're getting new details on the fda on what conditions need to be met for approval of a coronavirus vaccine. hey, meg >> we are just a couple weeks away if you can believe it from the first large scale phase three covid-19 vaccine trial beginning. the fda putting out guidance giving some idea of what to expect for how well these vaccines need to work and what they need to show before they get approved the fda says these vaccines have

to be at least 50% effective at preventing even infection from the virus or disease and they also have to test not just one of those things but also evaluate whether they prevent severe disease and the infection as well. they say they won't accept surrogate end points, meaning you can't just show antibody generation data because they say it hasn't been proven yet what levels you need to confer protection safety is the most important thing. they say subjects must be followed for up to 1-2 years at least even if the vaccines are approved just to follow along and get a sense of the durability of the protection moderna say their trial will enroll 30% participants in the united states. their primary goal is prevention of symptomatic disease and the secondary goal is avoiding

hospitalization and preventing the virus from being able to infect cells pfizer is neck and neck with them planning to start a trial in july. astro citiz ast ast ast ast astrozenica. pfizer has their trial data in house and they are waiting for a scientific journal to publish it they expect they could have data by september from the phase three if enrollment goes quickly. >> let's say the study were 30,000 patients. 50% would have to not show symptomatic covid and the other 50%, i mean i don't really understand the 50% effective it doesn't sound reassuring. >> if you think about flu vaccines, typically they're maybe 40-60% in a good year

effective at preventing either severe disease or disease with the flu. basically what they need to show is when they divide the 30,000 patients, half will be in placebo, half get the vaccine, that in the group that gets the vaccine, you do see disease reduced by 50%. >> meg, thanks i mean, i think the key here as it pertains to the markets and to the economy is, will a vaccine of that efficacy change your behavior? will it enable you to go out with any sort of confidence to stores, to hotels, go on planes, et cetera? tim, what do you think >> absolutely. from a markets perspective, let me take a step whacback i acknowledge that people at times in the last two months have shown some confidence, irresponsibility, whatever you want to say, storming into casinos, whether it was

discussions about whether they actually would take a vaccine or not if it had been developed they think there's maybe greater risk in that the bottom line is if you look at the market and what you want to own the day that you know for sure those numbers are enough to get fda approval and there is efficacy, you want to own banks, airlines, most of the industrial stuff, auto companies. anyone who's got this ticking time bomb in terms of their balance sheet, that's what this is all about it's all about understanding the length to normalcy i know that as analysts and investors, we can look to 2022, but these companies cannot i do think it's very important that the vaccine comes and i think people will feel more confident. >> guy >> i admire pfizer because effectively what they're saying is we're not going to say anything until we know more as opposed to some of these other companies who just seem to rattle stuff off for various

reasons which proper decorum prohibits me from getting into if you just look at these numbers, 40% of the population that have basically flat outside they're not going to get the vaccine even if it's proven effective, that'sproblematic because this entire thing seems to be politicized. i don't know what that means health-wise but i can't believe it's particularly good to steve's earlier point, we're closer to getting a vaccine because people are out there looking for it that's why again, these things take time. and the typical duration is at best 18 months what are we, six months in there's still a lot of road to hoe here we've said the way to play this is with the ibb, above 134 that is a verified breakout, in my opinion. >> our next guest says despite virus flare-ups, stocks are

headed back to an all time high. marko, great to speak with you you think the flare-ups are just hiccups and you're pointing to the lower mortality rate, you're not dying so that makes you more confident? >> we had a number of things happen in the market one is the stimulus. the second is whether this is going to end the economy we don't think this is going to end the economy. we are seeing the second wave. the mortality in the second wave should be much lower we are monitoring some of the smart thermometer data and seeing a much smaller spike. we think it's a little bit of a s setback but the economy is on the path to recovery. >> your year-end target is 3400. what sort of progress do we need to make on that vaccine? is that one of your primary base

cases for 3400, that we have progress toward a vaccine? >> not at all, not at all. we really don't condition it at all on a vaccine basically on one side we are looking at the impact of monetary and fiscal measures on the other side we are basically looking at some limited reopening of the economy. it does not require a vaccine. >> it sounds like there could be potential upsides to your target should we make some pretty good progress to the vaccine. if that's not factored in whatsoever, that could be a real booster. >> i agree if there's a focus on recovery that we do not see a vaccine, you just get quicker snapback, much quicker you probably overshoot we are talking about 3400. i think if you can accelerate everything, i think you would probably go to about 3400, 36, 3700 one big driver of our view is also positioning you know, positioning with

equities is actually very low. it's about 25th percentile of discretionary hedge funds. if you look at the kwaun, it's much lower so just the decline in mobility, if you can normalize a little bit the market, money will fall into equities. that's another big driver. >> marko, it's tim you guys have done a great job on having a level head in the chaos and talking about positioning and talking about this unprecedented level of stimulus let's talk positioning at times you've given us some specific levels if ctas overshoot on a couple of headlines we could get could you give us some near term guide posts on where you think some of the shorter term could be >> cta is not well understood in

the market signals are largely positive we are about 200 or average, about some of the fixed signals. signals are positive, but what's holding back are high levels of of basically the decline in vix, you would see an increase markets going into equities. i wouldn't tie to specific price levels but more decline in vix let's say vix can go in the mid 20s and maybe by the end of the summer low 20s then they'll pull in a few hundred billion dollars in equity which could push markets substantially above these levels. >> marko, just a quick question. we've been talking about the rise of the retail trader. i'm wondering in your world if

that factors in at all, their liquidities they're adding in to the market >> it does factor a little bit i would say the assets are not huge but their impact could be larger it's probably larger than traditional trades assets are flowing in. people are getting these paychecks staying at home and doing it to pass time instead of betting. we think that money will stay in the market that's another thing which i think is positive. >> marko, thank you. >> no problem. >> dan, marko said the magic number on volatility vix is mid 20s, low 20s this summer >> yeah. it could be. i mean, obviously it's really about monetary stimulus. i think fiscal is going to be harder to come by. i remember last time he was on the air with us, he was a little worried about the tensions with

china. to my purview, they're not getting better, they're only likely to get worse and specially as the president's numbers are as bad as they are, he needs to beat up on something. i suspect that situation is not going to be particularly good and that could be a real headwind to growth or global growth at a time when we just needed to kind of putter along, we needed to unify to me, that would be the big headwind that i see. >> grasso, quick comment >> i think he's right. i think you're going to overshoot those old highs, i think you're going to shoot straight to 3500 from here between monetary, fiscal and reopening the economy, those three things are going to have the ability to be a tame wiil w for the overall market

it's a night full of food. kramer sits down with the ceo of con-ag food. ahead on "fast," shopping for a deal why options traders are betting on macy's ahead of earnings. first dan is winding up for a fast pitch he has a reopening trade he thinks will knock it out of the rkpa

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welcome back as we close the books on the first half of the year, dan nathan says there is one shock that is sure to be a high flier for your portfolio dan? >> you know, mel, on "fast money" i like to say there's always a bear market somewhere here's one in twitter. this stock is down 20% in the last few weeks, 8% on the year down since they reported q1 back in late april the stock has been a bit of a mess. march revenues were down year over year, their ad revenues 27%. but they had a nice uptick in monthly active users they have this funny dau/mau situation but i think investors like that. in relative basis to snap, which has had this massive run of 40-50% in the last couple of months

it's trading about 12 times sales versus twitter at about six times sales. there's kind of some catalyst here that could be setting up as we get into the summer with this stock really not participating in this broad rally. i'm thinking about sports. nba is coming back, major league baseball, hopefully the nfl is coming back. when i think about those catalysts, i say, okay, twitter has an average revenue per user of about 20 bucks out of facebook at about 30 bucks they just gained a bunch of users despite ad revenue going down i think it helped them improve margins and get greater revenue from users they do have. i guess the last point is the sentiment is horrible. wall street analysts hate this stock. there's seven buy ratings, 29 holds and five sells on this thing. no one likes it it doesn't trade well. i say jack dorsey is stepping up

and is going to come out a better platform at the end of it last thing, the charts are maybe so bad they're good. at 30 bucks if it could break out here, it gets back to 35 here if it breaks that down trend soon, i think you see mid 30s. >> grasso, questions >> so, dan, when you look at this, though, and you set it up for me perfectly, the down trend, when i go back to september of 2019, then you see the february of 2020 and the june of '20, you have a series of lower highs now for a technician, that means it's running out of gas. while i agree with you, i think it's been oversold and i think you can get a pop. is this a short-term pop you're looking for and you're going to exit the trade again >> the charts are horrible, no doubt about it i just think the march guidance, they didn't give any guidance.

i think expectations got so low if they are able to beat and guide up for the back half of the year, you'll see a near term pop. if there's any inflection on some of those metrics we talked about, i think you have a stock that's put its bottom in in the mid 20s or so. >> are you buying dan's pitch on twitter? guy adami, what do you say >> i can't see anybody, but i hope you can see this. if you can, it's me tweeting about the tweet, buyer hashtag heart dan. despite the fact to steve's point it continues to make lower lows and higher highs. i like twitter. >> tim >> i'm just going to draw it for you barely there's my little tweet. i'm a buyer. as much as i get nervous when dan gets bullish, i'm long on the stock. they've always had issued monetizing i think dau growth is very important here. >> steve grasso? >> i'm going to do with buy as

well i'm going to say buy twitter and i would sell i'd be a short-term holder of this i would sell it at 35. i think that's good resistance. >> the panel has spoken. are you at home buying dan's pitch on twitter vote on our twitter poll a at @cnbcfastmoney. eds. find peace. boost mood. sleep well. stress comfort comes naturally, only from nature's bounty

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welcome back to "fast money. take a look at apple, the stock rallying today but a troubling report suggests the tech giant's 5g plans could hit a snag. hey, josh. >> the first question is how much confidence we should have

in this report i checked in with a couple tech analysts who know apple backwards and forwards they say not very much they're not very confident in the source it's been reports that apple suppliers expect 5g phones of 15 million. he thinks tim cook takes the stage, announces new 5g enabled iphones. there's a caveat initial demand for those phones could be softer than many investors are now expecting. one, he says economic uncertainty but just as importantly, 5g coverage in the u.s. will still be spotty at that point he doesn't believe we see strong consumer adoption of 5g phones until late 2021. between now and then he still thinks apple stock is higher from here. he said apple is a stable business with lots of cash and

can continue benefitting from work from home trends as well. >> guy, what do you think? i know you're rushing out to buy the 5g phone as soon as it's released >> 100%. i'm actually visiting the application store once reopens the first thing i'm going to the do is buy the 5g device. why wouldn't i i want to be like all the cool kids, the cool kids like josh lipton, who is at another level of cool. i digress. that's not story the stock, bad news doesn't matter impervious i think it's at 285 or so atf. when money flow comes in, apple goes higher, simple as that. i think it's going to continue until the end of the month i think if you're on the sidelines, you will get a chance to buy this stock at the prior all-time high which is 325 apple does give you opportunities a few times a year. >> tim >> the valuation is really tough

here i agree with everything guy is saying on the liquidity dynamic with apple also there is some concern this iphone 12 is going to be pricier. so i don't know how sensitive they are dan nathan will be sleeping out to get his apple device. i'm not sure everybody will be they're talking about pulling out the charger and doing some other things i don't know at some point the price may be a challenge, but the biggest issue is the price of the stock, not the company. i think 5g is fine we priced in a lot of 5g but it's really this multiple. >> i think we priced in a lot of 5g, but i think the actual phone when it comes out and the availability of it in the back half of this year is not going to be that great there's not going to be a big super cycle. the opportunities of 5g are kind of about connective devices and iot. it's going to be a higher price point. this is not the time to do that,

in my opinion. i don't think it's going to have mass availability. i don't think you buy it for 5g. coming up, macy's reporting earnings tomorrow. traders are going on a shopping spree. this was an unexpected bill not covered by my health insurance. and this is the aflac duck who helped me cover it. aflac. these are all the cab rides to my physical therapy. and aflac paid me directly to help. aflac.

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welcome back to "fast money. macy's reports earnings tomorrow the company announced a $4.5 billion capital raise back on june 8th and predicted a 45% drop in q 1 sales. the stock is up 8% this month and options traders are betting on bigger gains ahead. mike has the action. >> we saw calls comfortably outpace puts today we've seen that over the past 20 years where call volumes outpace put volumes by 2-1 that has let the call to comfortably exceed that of puts for the first time since 2019. where we're seeing a lot of that activity is in the weekly 6.5 calls. buyers were paying just under 40 cents. those are bets the stock is

going to rise above that 6.5 strike price they announced preliminary results. we saw 30% that week this week slightly less moves expected but bullish bets are being made in the options market. >> grasso? >> the only thing i could say about macy's is the stock is down 59% so you think it's due for a bounce so is kohl's stores. all of those could be bouncing i agree with it. macy's is due for a bounce off the lows. >> thanks, mike, for that. we are off this week for independence day for more "options action" be sure to tune in the following pride. up next, we'll reveal if you htan ft tconh twitter. ♪

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time for the results of dan's fast pitch on twitter. dan, you squeaked by with a win. squeaked by, 51% you're having the time of your life time for the final trades, go around the horn. tim? >> i'm going to ride that fedex momentum the stock underperformed the s&p by 16% from jan '18 lows i think it's time to buy this stock and the whole sector. >> grasso? >> om i'm looking for 10% on semiconductor om >> dan >> just on twitter, $19 billion enterprise value way too cheap here for that asset. >> guy, we hardly ever hear this

song. >> can't wait to see tomorrow night's show, mel. it's going to be a big one. >> i'm off ♪ >> oh. pan american, paas. >> thanks for watching we'll see you back here tomorrow at 5:00 or 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 is not just so entertain, to educate and teach you call me at 800-743-c nshlnbc ort me at jim cramer what were some of the greatest investments. dow advanced 217 points puttin