watched it but it's on the list. i'm torn though, if this was a big movie release i'm questionable to be on for it it's just a recording of the broadway show i wonder if i should wait to see the proper show. >> i think you should. it's for people like you that didn't get to see the broadway show the fact that we're all talking about a broadway show years ago that was actually made into a movie, which was incredible, i watched it saturday night, it's pretty remarkable and could mean big things for disney plus just watch "satisfied" it's the best song. >> we're out of time "fast money" starts now. "fast money" starts right now. tonight trader line up coming up on fast. tesla zooming to a all-time high plus betting on alibaba building for bigger break out. and late ier, we'll tell you

about the golden opportunity traders are spotting in the market, that's ahead we start with another big day for the market nasdaq posting another all-time high as coronavirus cases continue to climb and risks up we got the economic news on the u.s. front so guy, have we become enured to the rise in coronavirus. >> we got really good and really bad data i think the market seems to discount the bad it seems to get geeked up on the good, which we've seen over the years. to me it's all about the liqu liquidity that's being presented and put in the market by central banks globally i'm pretty outspoken about that. but we did say on june 26th, if you recall, we were encouraged the market held 3,000 level at s&p 500 and gave us something to trade against. didn't think we'd be here today,

quite frankly. but the next level, the june 7 high of 3240 is in the cross hairs of the market and has to prove itself there what i would say today that gives a bit of pause is the fax that the vix is sub on today, held in a tad higher and 26, 27 level in terms of the vix is where we bounced off early june. >> also noticed the russell 2,000 small caps didn't participate to the level the broader market, unusual for a big market rally, tim. >> yeah, russell is now down, i think, about 33% relative to the nasdaq, think about the under performance, i think it's down 18% or so down year to date. so the real growth and economic sensationitivit -- sensitivity that small caps are in measure of is in front of you.

this is about liquidity and the brow is getting very, very tight. you if if you look at other stocks to the nasdaq and s&p 500, it's outperformed the s&p 500 by 22% year to date. there's no question that the reopening of the economy we're pretty sure there won't be heavy draconian economy, you have the news that the great if market news is the market is drink by liquidity right now. >> to that point liquidity to the same name

should we care amazon going over 3,000 for the first time is that concerning to you? >> you know, i think it's a little overstated. certainly is not as broad as it was the first week of june but let's distinguish between stuff not going up as much as the market and stuff going down. there's a lot of the former, there's not as much of the latter i know airlines on a relative basis have been weaker banks have been weaker they're not going down in absolute terms that's the difference. you look at the leadership factor semi-strong. software-strong. biotech-strong but materials are acting better xd some of the transports the trucking names even the rail. could this is not as broad as a month ago but to call the market dangerously narrow is a little overstated. >> dan >> fine. but you know, there's certainly meetings going on here amazon start going up, broad

bottom before market in march, above 3,000. that puts it up 10% before trading days 10% on $1.5 trillion market cap. talk about what that is discounting. do you know how many stocks in the s&p 500 have $150 billion market cap, what it just gained in the last week, less than, i think 100 or so, maybe less than 70 so some of this stuff is really getting to a point where it's really -- makes little sense to ignore it. you know, we're going to talk about tesla. tesla is up 45% in a week. 45% in a week. just kind of let that sink in a little bit here. you make great points, yeah, the bank is acting better today. they don't act well. oil stock is acting better, they don't act well on a regular basis. so a lot going on the back half of the year.

just like in early june there was a may jobs the number to get the rally going, and could say it's june job number that got this going. if you look at weekly continuing claims they're not particularly good and over that period of time since the may report we want to on a weekly basis add more added back to the job that's were loss due to the shutdown. to me i think the back half of the year is not shaping up particularly well, especially considering the fact we're going to have rolling shut downs not lockdowns on state or federal demanded level, i mean, the private sector will continue to lead on those lockdowns and we're going to continue to see spotty recovery. >> i get that and i was on that train for a long time, ever since the market rally took off, but guy, as a trader, if you put your trader cap on trade what you see so what do you see in the market we're seeing the market go higher and a wave of liquidity from the fed that is unprecedented. so don't you just trade this

high i mean, this is the market we have we're at it every day because we have a panel that's pretty cautious in general about this rally and the hiccups in reopenings >> yeah, well, i don't think tim has been cautious, i think tim's been spot on and chris has been very optimistic, i've definitely been cautious, but we've also tried to point out opportunities along the way. nothing short of a a miracle will not make me cautious. just by virtue of what is going on in the world you have to be pragmatic and say there's serious headwinds and to your point have to action knowled knowledge -- acknowledge what's going on dan has a very draconian back drop, i think he's been blinking help me, the last few minutes. >> it's very stark, his background no declarations except one

painting, it's an unidentifiable location dan. >> let me say this, i get at it a lot and don't give a you know what. >> i know. >> here's the deal, if you just want to ride the point is we're seeing things right now that we've seen in other very speculative manias. we know how they end trees just don't grow to the sky. so when you see this euphoria and universal agreement that amazon will go from 3,000 to 4,000 it just doesn't always go that way i get that it's great companies doing great things but don't think you can say that about all of the names up 300% from the market lows. >> i want to look at stocks compared to broader market two stocks at the top of the take a pair of big old because kills. tick kick it off with tesla after a new it high 1500, analysts say the company could

get to $100 billion in yearly revenues by 2025 shares are now up more than 215% this year. chris this is one you've been bullish on, what do you see. >> i think dan called it right, pretty remarkable last five days, stock up 45% let's talk about levels. the prior high before this break out was 970. and the low in march was 370 the difference is 600 points add 600 to that 970 gets to you a target 1560, 1570. that's a fair target for this move i think this is the embodiment of this growth trade that remains very much in tact. one of the most remarkable stats, there's still only sell side not embracing this move, there's five down grades this week so this one will probably go higher. >> don't know if you saw, elon musk taunting the shorts as he is apt to do with a sale of

short shorts i checked it on the tesla website, you can actually buy them it's not just a joke these red satin short shorts only extra large and small are available, guys. >> will work for guy >> ha, ha. >> it's unfortunate. you know, the red, you know, it's absolutely my color. quickly, i'll say it is interesting, going back to the joe interview with president trump in davos when stock tesla was around 300 or tad higher if you go back and listen to exactly what president trump said, we did right by tegs l tesla, they're going to do right by us. stocks never looked back in may stocks were 700 and elon musk tweeted stock's too expensive. i'm paraphrasing again that lasted a day and here we

are double he can do what he wants on twitter because he seems to have air cover. i don't necessarily get it but i see what's going on. you absolutely stay with the name. >> another stock, square, marki markingilities -- marking its own record high. from 1550 to 83. on all four components on the kb bank index. >> and you have a case at $50 billion a lot of the analysts are just catching up but let's be clear, square has a lot of market share, it's a have, in the world of have and have hitch notes in the -- have-notes in the covid-19 profit very profitable. growi growing since 2019 it's part of the higher margin story for a company that's not even focused on profitability.

if you are looking at evaluation you evaluate on ev to revenue story. at some point it's a total catch up i'm still on the name. i've taken a lot of chips off the table and owned it in a few accounts it's very difficult to rationalize this valuation for a company that i think jack dorsey has had his finger on the pulsz of what's going on with consumer banking. square will be there cross sell something in the app. but at some point the streets just chasing its own tail. >> what does the chart look like to you, chris. >> this is one of those names it was dead money for two and half years, it was sideways it only just broke out i know the move has been super aggressive in the past several weeks but it is not a stock that was up -- it was sideways. i say buy weakness. another buzz kill.

fedex. losing early in the day and eeking out a game. so guy, under performing, what's it tell you. >> we talked about it last week. remember it was $250 stock in september 2018 it's effectively been cut in half worse a few weeks ago. uvs upgraded the name, raised the price target to 156. we flagged that couple weeks access we've been optimistic on this name, correctly. but going back last week post-earnings had a huge volume day, traded up to the high 160's, levels we saw few months ago seemingly failed again, i say take profits here you've seen this pattern of lower highs and lower lows i think that pattern will continue in my opinion if you're looking to buy this you buy to break out above 165 or therabouts or you're looking for a pull back

back to the mid-130's. i think the latter is more feasible. >> yeah, tim >> well 155 is the level i want to see the stock hold. remember you're not getting that excited over the numbers last week they were about cost-cutting and some excitement about revi reviseallization of ground express. i think after massively under performing, fedex was a lead indicator for the market in 2018 when it was at its highs and i think it put in its time we are we're working through the pain there's not going to be a turn around overnight but this stock is harbinger for that. i think you watch the 155 to hold i like it let's get to zoom. the recent stock more than 5% up, end of the day, negative, dan, you flagged what had been

parabolic move in the stock. >> for decent reasons. when this company reported fiscal q1 earnings in may they had sales up 170% year over year astounding and they're up 75% sequentially. they guided in mid-may to something like 50-% sequential revenue growth investors paused for a minute. in early june, this morning the stock's up 50% or so this company is pulling forward a lot of demand. who knows when we get back to work in a normal fashion, who knows if there's a backlash of doing zoom one after another all day. it's a great product, a great service, a one-product company, that will be a headwind for this company. it trades with $73 billion market cap. it really is going to take time and other offerings to grow into that valuation i can't tell you to sell it.

feels like it's going to 300 look at the way the other stocks are moving understand when you get a gap opening like this and reversal you might see a follow through tomorrow and will feel ugly next week pick your spot where you will own it and dollar cost average into everything. >> i love that you don't have to wear proper pants while doing zoom that's the one upside. >> whoa. >> no, no, no. >> something you want to tell us. >> i meant wearing yoga pants instead of slacks or skirt, something like that. business attire. >> okay. >> i was just looking for clarification. i'm not quite certain what qualifies as proper pants. you made that abundantly clear and we should probably just move on at this point. >> all right let's move on today's broad market rally start in asia with shanghai scoring almost 6% and chinese security

times saying fostering up healthy bull market is more than ever that triggering a explosion of searches on social media how to open a stock account. this is reminiscent when day trading waya huge frenzy in china and they had to put a stamp tax on trading. >> we saw this in 014 -- 2014, and i massive run june 2016 had a pretty wicked pull back. remember what the central bank is doing maybe the pboc doesn't have the same type of ability to communicate but they certainly, the state agencies and the securities journal, with a front page article about this, talking about the wealth effect owning stocks how it will be a good time and the chinese government has bought stocks before and can buy stocks and understands and sees what's going on around the world. this is a massive break out. we talked about it last week,

the fear around hong kong and naturalization law in china. the reality is the emerging markets are breaking and the dollar is going higher huge tailwind for stocks some chinese tech names are not just for today but also for tomorrow and i think the market will give you more i saw tent cent streaming, they're spotify, an off shoot of ten cent, to me is one of the most interesting tech incubator in the world i think it's going higher. >> let's go deeper dive to some chinese stocks chris, what are you seeing >> you know, i think tim has it right. look at how the average investor will play china. i think k-web is the place to look, the chinese ticker, kweb we're right back to those 2017 highs. remember, this has really been the bare market in the better part of two years. question is as we push near the

old high dozen we embrace -- old highs, do with embrace or fade to answer that we have to look at the big weights driving all these em so when you look at the second largest weight, al bacibabe is already taking out '17 highs and blew through 230 in last several weeks. got to look to big targets if you like large weights the first largest weight is ten cent it's already broken out. i think pull backs for support it is also outperforming s&p 500. so outperforming u.s. tech is a remarkable feat given how good u.s. tech has been i also think you need to start looking for laquers.

if this is a group move you have to go down quality scale and look for what's catching up. baidu is an example of that. this one just starting to turn i think anything back to 125, very good support. i'd be inclined to buy that. the bigger question for investors, what's driving this move the dollar is copying here dxy had a very tempered rally, it should have been stronger, that was a tail, we failed at 98, i think they will push it down to 95 that seems to be tail wind for em trade, natural resource trade and china tech trade i think stick with it. >> sounds like there's a lot of forces at work, not to mention the wave of retail money chinese governments attacking the shoulders of banks saying it's time to foster a healthy

bull market post-and because -- post-pandemic because it's more important than ever to do. >> yeah, and you wonder where it is coming from, if you listen to president trump speeches over the weekend he mentioned china how they're going to pay for their involvement in the coronavirus. this rhetoric continues to get ra wrached up what you are seeing out of china 45ir i they're tryingto be ahead of the curve to get the market higher. with our market higher president trump feels he has equity in terms of racheting up the rhetoric it clearly matters for the market but nobody cares now but i don't think it will go away any time soon. >> dan >> you know it's interesting that tim mentioned the move in the shanghai composite in 2015, if you remember, it kaulz -- caused a great deal of global

volumality, stocks, fixed income and -- it had been tremendously volatile in 2018 went from 2500 to 3500 on the trade war so to me the market cap is $5 trillion equal to microsoft, ample and amazon apple and amazon seems our fed has greater control over our stock market when they want to over the bank of china to me it seems like a fake market, like a lot of things out of china but can't argue with the charts that backa is breaking out and it looks like the real deal. >> you don't like the overall composite but you like baba. >> it's listed here

i wouldn't buy the chinese market. >> you mentioned chinese tech versus u.s. tech who you rather, which one? >> i think u.s. tech is still global leadership. i want to respect that but to touch on something dan talked about, it's not just china working, a lot of related markets, look at taiwan, look at the aussie market firm as well the related stories are telling a very similar tale. let's switch gears, we're continuing to follow continuing stories across the nation with more coronavirus hot spots popping up over the weekend, now the latest. >> reporter: these record numbers, just since july began we added 250,000 case in the united states. we had four days more than

50,000 cases the test-positive rate has also increased. florida reporting record numbers over the weekend more than 10,000 cases yesterday. more than 11,000 on saturday they did close some beaches. some over the weekend did remain open meanwhile hospitalizations continue to be on a disturbing trajectory in states like texas, more than 8100 arizona, more than 3100 people currently hospitalized these aren't the only state that's are having issues georgia is also one of concern and multiple states from alabama, montana, new mexico, south carolina, tennessee and wisconsin on the peak of their seven-day average. in terms of the areas with the fastest growth, still mainly florida, jacksonville with the fastest growth with a case-doubling time of pace of eight days, following by

charleston, south carolina, orlando, texas, and tampa. good news is we're seeing progress on treatments the antibody cocktail drug that could be preventative and treatment is now in late-stage studies and should see data from that late in the summer that could potentially be available before vaccines of it works. we'll be eager to see the data when it comes. >> meg, thank you for the latest on the hot spots and treatments. in terms of who or what you might trade. regeneron is in there. lily with another antibody. >> without question one thing we're stead fast is on biotech i believe there's all-times as well talking about amgen for a while but that stock made an all-time

high last week, broke prior resist angelesance -- resistance on the upside there's a lot of names we talk about. i understand, i get it, i'm a human being and want to be optimistic but again, the vaccine game does not happen as quickly as a lot of people want us to believe it does. i'm still somewhat trying to be pragmatic and even-keeled. i understand the optimism around it i don't see it happening as quick as a lot of people think it will happen >> chris, what's your favorite chart in biotech. >> if you look at the whole group. one that is a fantastic long term almy another good one. and among the former charts lily is fantastic breaking out of a 20-year base that's what you want to own there. >> coming up, remember this incredible video of a crowded

casino floor we brought you, there's new problems in sin city as casinos reopen. plus," hamilton" movie release. can anything derail the netflix rally. we debate that straight ahead. that connects you to technology to each other and to other agencies. built with and for first responders. firstnet. the only officially authorized wireless network for first responders. because putting you first is our job.

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the threat of another shut down is already having an impact on key industries. we are kicking things off with the airlines. >> reporter: the airline stocks are mixed, before finishing the day higher, the reason, investors are trying to determine if you look at the glass half full or half empty.

half full perspective is this was relatively strong weekend, the best weekend for the airlines in terms of total number of passengers since mid-march. they were getting above 700,000 three of the four days this comes at a time when you look at shares of american, adding 1600 flights a day in july as they ramp up what they believe should be a busy summer, relatively busy compared to april. delta adding 1,000 flights in the move july. another 1,000 a day in august. then things slow down in september and october. then you have united which is also in the process of adding flights this summer they said left week they're starting to see demand flatten out. that's glass half empty part when i talk to people in the airline industry everybody says the same thing, cancellations are up as covid-19 cases spread.

people say i'm not going to a particular destination if there's going to be a surge in cases. and bookings are starting to dramatically slow down so number of people around the country, melissa, may be saying, you know what, i'm not going to book for august, assessment -- september until i have certain about covid-19. >> you don't want the to get stuck on a state to quantity for 14 days before going on vacation what are the policies for united or american airlines in august, how far do you have to cancel it >> well, that's why we're seeing a rise in cancellations. the policy is if you book a flight and decide this is not going to work out, you got until the end of next year to take that flight. for a number of people they may have booked a flight in may or june and coming up on it saying this is not the time to be going to dallas or phoenix so they'll cancel it and use it in the future. >> yeah. phil, thank you.

>> yeah. what happens, tim, you have been an investor in the airlines, what happens when the airlines have to renege or pull back plans to expand capacity. i would think that's a maker disappointme disappointment. >> that was a rallying cry for investors a month ago. week over week down 5% point from last year year over year down 57% domestic and 87% transatlantic. the real question for investing in airlines, there will be an upcycle, a moment where there's visibility to the other time, the real question is, the c.a.r.e.s. act going to shackle these companies with effective heavy government dill -- delusion there's a change in the white

house what will democratic administration do to airlines, will there be risk of nationalization. this is what is hanging over airlines the not your regular out of a crisis, can they rally definitely they can rally. can question is, owning if the government is alongside you. people fear that. >> what point do you rise out of crisis, in the life cycle of an airline. let's go on to the pressure coronavirus has put on the casino industry. >> reporter: nevada governor threatening swift, decisive action this week to crack down on businesses breaking health and safety rules they're not finding compliance last wednesday fewer than half businesses observed were following mask mandate and gaming regulators have opened more than 100 cases for

non-compliance wild rumors about vegas casino voluntarily closing but i heard a resounding not true. but mgm and cesars warning workers could be fired and also instituting mandatory covid testing for all las vegas employees. new jersey casinos just opened at 25% occupancy and no indoor dining feeding hotel guests is a complicated task so they post reopening. in louisiana hundreds of lay offs in macau another extension of quarantine rules and gaming down 97%. las vegas sands has reopen in singapore but at 25% capacity. for now only to gold status reward members and higher,

melissa. >> you mentioned the internal e-mails to employees failing to follow rules what happens to guests, do they get kicked out is there a black list. >> yep i don't know about black list but they said you need to tell us if guests are not following the rules and they plan to escort visitors offer the property for not following the rules, that's every property nationwide not just where the governor has mandated it >> guy, how about the casinos performance in today's market. >> windindicator. >> it's catching on. >> mark my words no, so, it is interesting. you think about wynn it bottomed out at $35 march 18th and closed higher that day. traded $109 few weeks ago.

then gave up the ghost. if you look to trade these stocks win against $72 on the long side makes a lot of sense for trade not that the business is improving but you saw the sell off from $109 left so 72% is 50% retracement. i think you can buy this stock right here. all right. coming up. netflix proving to be a big quarantine winner. should all you cool cats and kittens scoop it up or debate on that trade plus. win warning sign on intel. straight ahead liver. in new ways. to new customers. what if you could come back stronger? faster. better. at comcast business, we want to help you not just bounce back. but bounce forward. that's why we're helping you stay ahead and adapt with a network you can count on, 24/7 support and flexible solutions that work wherever you are.

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welcome back to "fast money" netflix hitting an all-time

high will remain the content king as consumers stay at home they did a survey, 7% say they will continue to view streaming more steadily after the pandemic so, dan, where do you go with netflix? >> you know, it's really hard. if you have kids and have been sitting at home you realize they've literally watched everything there is only the internet i haven't seen my kids pull up netflix. they moved on. they went to hulu. now they're at disney plus the list goes on and on. this goes to the bare case for netflix story, how much money will they spend to acquire for create new content expected to spend $17 billion. when you get a curve ball like what disney just did putting on "hamilton", i've watched it twice over the weekend, it's sticky stuff so you know there's a an arms race and negligent free cash flow associated for content

spend. i think the period of time we've been talking about for years, all that competition will come, well, it's here now. even with more content then you think of creating content will be an pause for a very long time you need a deep catalog. some of the new net works like peacock and things that disney has have deep catalogs so i expect the growth early of the pandemic to level off a little bit. >> i get the whole content blackout period, need for in-depth catalog but longer term. it's only problem on content if you can't raise the money. and netflix doesn't seem to have that problem with the stock going the way it is. >> the question is do they have pricing power. can they raise prices. they raised prices in early 2019 i think the pricing power is not there but give reid a ton of credit for not only acknowledging competition but

offering up the death of linear tv means there plenty out there for everybody and they have a massive head start i have been short this name, i am not short any more. some of that is watching key levels on the break out because this is one of those stocks at times doesn't respond to fundamentals i don't like the valuation i don't like the cash burn i don't like the competitive land scape, bases on the market we're in, i don't feel comfortable being short on this any more, and i'm not. coming up, will work at home boom save failing pc business. we'll have details ahead. plus, traders betting on golden gains in this oneto, all that action in this name when fast money returns. you should be mad your neighbor always wants to hang out. and you should be mad your smart fridge is unnecessarily complicated. make ice. making ice.

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welcome back to "fast money" time for the call of the day, goldman sachs down grading to a sell saying could hit 9% -- stock escaped in the green not what intel investors will want to hear after what apple did to the company as a supplier analysts upgraded the stock thinking it would benefit from work from home trends but there was pull forward in pc demand so back half of the year they think will be weak there. >> listen, kudos to the analyst that wants to trade the stock and put a sell on it you don't see many sells here. he's not even calling for a 10% down side. i think the key themes, are what you just said, the pull in from the pandemic and lack of visibility of spending so i think this call could be

broadened out a little bit especially as we've seen players in data-related stuff in the enterprise do very, very well. the other important point, talking about federal and state budgets going to be really depressed. intel is tough as it is in regard to the end market valuation, relative basis, is very, very cheap this is a call for traders, not as an investment theme for $59 lines up well against its peers. >> do you see that 9% down side on the charts. >> no i think it's a tip to the stock for holding up relatively well on a down grade i thought that was important if you want to own this or get aggressive with it got to break it up 64, 65 we'll see if that happens. problem i have with the name is there's so many better charts in this sector. strong across the board. you have to have a lot of faith

in intel >> coming up, glo food, glorious food grab your snack. we'll break down the trade. plus traders are seeing something shiny in the options market, much more "fast money" straight ahead if you've had the coronavirus, you've got a lot of fight in you. and you're in a special position to help us fight back. the plasma in your blood can literally save lives. but we need to act fast. please donate plasma now. please donate. donate. donate. donate now.

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welcome back to "fast money" uber acquiring postmates let's get the details. >> reporter: hey, melissa. well uber is making up for lost time in the delivery space, key question, will postmates make up for it unlike a grub hub purchase which would have combined number two and three players and given doordash a run for dominance,

uber is the distant number four player with postmate so yes, it's much-needed consolidation and gives uber an edge in key markets but leaves two capitalized competitors on the field and it's not clear how any of them get profitability in this environment grub hub was recently sold to a european rival the uber deal worth $2.6 million. that also combined two money-losing players uber eats business lost more than $300 million in the first quarter. sources tell me postmates was running out of cash as part of the deal uber will provide bridge financing to the start up during the process of obtaining regulatory approvals ultimately, guys, the ceo estimates more than $200 million in run rate synergies after that deal closes. >> thank you dear nathan, what do you think

of this deal >> reporter: it's brilliant. you pay $2.6 billion for a money-losing company, consolidate your market share, you have 37% combined, your stock goes up 6% and basically pays for an all-stock deal you can't really argue about it except there's some dillution there. end the day these guys have to justify. i would think they would cut baits uber eats. i'm sure they'll figure it out. >> the divide between uber and lyft seems to be widening in terms of the differences of businesses with uber doubling down on delivery. >> since the beginning of march, the march low for both, the stocks have actually almost traded in lock step. i want to say lyft is maybe outperforming a little bit but to your point the chasm between the two grow lyft traded up to $41 early june

and had a big sell off with uber i think lyft is the place to be. their pathway to profitability i think is much clearer and i think it's a better company. i also drove for lyft forea day so i'm somewhat bias but would rather have lyft. >> that first passenger says how long you been a lyft driver, you go about 20 minutes. >> i had to lock the door because she wanted out so quick. >> i remember that chris lyft or uber >> i think the problem with uber is another examine a chart making low and highs for a year it has to show us something. lyft as well. if you want to trade uber that's june 28th low better hold. that's got to be the line in the sand here. coming up, it looking to mine a winner. we break down golden opportunity ads are seeing

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your wireless your rules. only with xfinity mobile. now that's simple easy awesome. switch and save up to $400 a year on your wireless bill. plus get $200 off a new samsung galaxy s20 ultra. welcome back to "fast money. freeport-mcmoran striking gold after over in the options market, traders are taking a shine to

this stock mike joins us with the action, hey, mike? >> reporter: hi, melissa so freeport traded three times its average call activity going on quite a while now august 12 calls one with the highest interest we saw people selling august 12 calls buying november 15 calls they were able to take 40 cents in credit to do that trade selling august credit they own and take profits but pressing bullish bets buying those november 15th calls to the end of the year. >> thanks for that, more "options action" friday at 5:30 eastern time tim, i will go to you, arizona looking like it's going to start up okay -- >> yeah, so, south african mines are ahead of schedule and grass roots very important when looking at the balance sheet

yes they have almost $10 billion in debt but they have untapped revolver with $1.5 billion on the sheet. their ebida 650 for q2 is much better than expected i'm quite bullish on copper. all of the trends should be woven together in mosaic, talk about china, the fallen dollar and other dynamics there's been good and bad days but the company is run much better than a few years ago and seem to be under control. >> this was a name we'd probably mention every single show "fast money" circa 2007 back then. it really held true for some time and that relationship between dr. cop earnhardt --

between dr. copper and the global -- are we back to that? >> we're absolutely back don't discount the weaker dollar factoring. the freeport will take a high of january 13th of $13.75. and don't discount other mining stocks gold mining above 261 again. these stocks to me are just getting started in my opinion. >> chris >> i agree you said these are stocks we used to look at every day in '06 through '08. rio tinto as well. these things are getting better across the board. look at copper relative to gold breaking out three to four month highs. that's driving it here. >> thanks guys that does it for us. a bonus "fast money" after this quick break. turn on my tv and boom,

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hello and good evening to you "mad money" fans we have a special edition of "fast money. we have our guests on tap. we have a pile of cash, enormous pile to put to use we'll ask the traders what should he did with that catch next the stock that suddenly soared to the top of the charts among retail investors we'll tell you what it is and find out how to trade from here and we want to know your burning questions, as ll