close. what will you be watching tomorrow to see if we can continue to hold the gains we saw yesterday on the stabilization in yields. it's not like they popped today. >> no. it's about the continued heaviness in tech stocks by the way, the issuance pipeline continues we're watching airbnb, that's an area that seems to be weighing >> the nasdaq was down 1.7% today. that does it for "closing bell." "fast money" starts now. >> i'm melissa lee lee this is fast money money tonight, the chart master says it is time to harvest gains in the tractor trade. he'll break down the chart next, clean-up in isle three target misses the mark we start off with the selloff in big tech

the nasdaq falling to finish the day at session lows. big cap tech anling falling 2% today. now down 7% in the month amazon down 1.6% today, now 8%, tesla is down a whopping 21% in the past month are the wheels really coming off the tech trade guy, what i thought was interesting was action it wasn't just the nasdaq closing out. the s&p 500 as well. rates were part of this picture here >> interesting, right. rates were on share, i think pretty much tlt closed it's not part of the picture 1959, i remember this vividly. itches in high school. diana washington sang a song "what a difference a day makes"

and it's incredible over the last three or four i'm san diegoing when the market is zagging i couldn't figure out what friday was yesterday is the carry over of the prior two. despite the fact that rates weren't in the picture today, i think that's exactly what's going on here. i think the market is taking its cue off the bond market. i think rates are going significantly higher than that 1.55% level on the 10-year we topped that out on friday i think the market's finally realizing rising rates not a good thing >> merck is going to manufacture the johnson & johnson vaccine. pip president biden is putting the pedal to the metal that begs the question how long can rates stay where they are and are we destined for higher rates and put pressure on these markets? >> i hope we're destined for

higher rates not dramatically higher, but i will say again i think we should be at 160 on the ten-year. it's interesting because san francisco, he was another of the fed trade. we had a lot and we have a couple more this week saying that 2% inflation, they're ready to overshoot, pointing out that the question is doing what it's doing because of optimism and that the fed is not going to move, even at the first sign of inflation. they're doing everything they can. it clearly doesn't believe this. it believes that the market is moving ahead of the fed. to big tap tech, the things that concern you, if you see that tech was done this before. over the last six sessions including today, the triple qs or the nasdaq 100, have traded either slightly above or traded but below the 50-day moving average throughout the day and

for those six days closing below it, including today. the last time we had this kind of activity was back in september. it was a seven-day run around and a couple of days above but testing below the 50, we haven't done that since march. otherwise, it's been a great run for tech, even in good days and bad days that is the story. we talked about it on "fast," where should megatech stocks go. i don't think they're going that much higher. >> bonawyn, friday we were concerned about it and we had some pretty big rallies. fast forward 12 hours from now or however long, one session, two sessions from now, are we going to see people go back in for the megatech trade >> cinnamon is sweeping from left to right, it seems, almost at the drop of a dime. the environment we've been in for quite some time, whether

there is -- there is no environment we've been in some time there is a shift there rising rates for risk assets is not going to be as attractive as we have been it's all about where we have been relatively. with that said, i would still -- what i'm looking at. tech are the cues, i make sure i differentiate between apple and amazon and names like tesla and zoom tim gave you a great reference.in terms of the 50-day moving averages but the stuff that really concerns me are the zooms and the snowflakes of the world. that is what the market is telling you they're having less appetite for in terms of risk tolerance and that's where my targets are squarely on. >> i get that there's a subset of technology that may be more vulnerable to any sort of pullback, but dan, we are seeing big declines among favorites among investors who thought they

were relatively defensive, like apple, down 7% in the past month. where is fair value, in your view >> here's the thing. microsoft, apple and amazon haven't gone anywhere since september, so it's been part of a rotation trade in the cyclicals, financials, obviously a lot of other secretaries that were primed to take off. i think the most important thing that happened today was the 15% interday reversal in zoom. it was up 10% yesterday. they put up a great quarter. they gave a great guide for the first quarter. when i was sitting there and looking at that annual guidance, i'm saying this is really front and loaded here. it's about as good as it gets. it printed a quarter where revenues were up you're going to decelerate from that yesterday this stock closed about 22 times sale, not earning, but sale.

this is a fundamental thing. it wraps into this discussion about rates. it wraps into a post pandemic economy here, so zoom is a great company. they have a great product. they've been raising money they're going to do some interesting acquisition. they're going to broad open their platform a little bit. but it's got to grow into this valuation. very profitable, too among other high growth valuation names that have come to the market in the last year, whether it be through an ipo or a spac transaction. >> i get zoom. dan mentioned that zoom is the victim of a couple of cross kurgets, first the front and loaded guidance, second, the post pandemic world. guy, is that a good example of what is going on in big cap tech or is it simply that they gave good enough guidance, can we extrapolate that across?

>> it's a good example another good example, kudos to dan once again, tim mentioned this, nvidia a week and a half, two weeks ago put up what i thought was an outstanding number only to see that reverse as well i think obviously, you know, a make here and there does not make a trend when you start linking these things together, it's somewhat concerning i would say it was good news on nvidia, bad price action yesterday i said on the show it was good news on zoom. i thought zoom would continue higher but it's really bad price action you're talking about a company that went from 20% core operation margins to 40. they blew it out on just about every metric, but it's powerful, especially when it happened on zoom today at almost three and a

half times normal vom. >> a 15% correction if earnings do not dramatically exceed expectations class is in session with the dean at nyu. great to have you with us. >> glad to be back 15% correction from what point do you measure that around what do you mean by fie r higher rates is it 1.5 or 2%. >> i'm not a soothe sheaer if you look at the expectations, clearly the market's expecting a strong comeback in the economy, even stronger comeback and i don't have a problem with that story. at the same time, the market seems to be san begin about rates. it seems feds can keep them wherever they want them to you can't have both stories in your head and expect those stories to both co-exist, so what's happened over the last

five days is something i think you're going to see back and forth for the next few weeks, maybe even next few months at the two stories fight for attention. the rate story wins, stocks are going to go down if the earnings story wins, stocks are going to go up. but overall, i think there is to be some kind of -- you've got to resolve that extradition that's where the 15% comes in, the building expected earnings, any build a rising rate structure you're going to come up with a level of index about 15% below where it is right now. >> we've already seen this sharper correction or sharper declines in big cap technology aswath, so i'm wondering as you've witnessed this if there are stocks you think were unfairly punished or if all big tech is still vulnerable to a pullback should rates go higher. >> they had a good run for a decade we're living off these stocks.

september of last year i valued the paying stocks plus apple and microsoft and only microsoft looked undervalued there and the other five were not massively overvalued but they're all 15 to 20% overvalue. what you've seen in the last six months is consolidation sideways movement i think microsoft would be the one i have in my portfolio i think part of the adjustment is you've given back gains that came much to easy in my view >> professor, it's tim thanks for joining us. if i was in your class, my guess is an entry on the curriculum would be pointing out just the relationship without the enter rate dynamic of valuation of the stocks, and cwith covid, there was this mulligan on 20 and 21 at some point as we get through 2021, i think you could have taught in your class and i'm sure you do that earnings do

matters. so i know you brought that up. but i -- i would make an argument with a 110 tenure at some point we have to pay the piper on what we did on covid when we said we don't care about earnings what do you think? >> i completely agree. i think you spend a trillion here and a trillion there and after a while it starts to add up to real money, as they say. we've frond ended a lot of spending that we've done over four, five, six years, and i think that -- that's what troubles me. earnings are coming back because of feeding money into the system then how can you stop rates from coming back. the fed can't stop them if inflation still keeps going. the fed can say whatever it wants, but inflation is 2.5 or 3% rising, there's nothing the fed can do to keep rates from going up, absolutely nothing they can try to tweak it but the

fed will be more spectator than rate at that point in time >> professor, it's always great to speak with you. thank you for your time. >> thank you >> we didn't get to this, but the professor thinks that airbnb is one of the more vulnerable stocks to any interest rate sparked correction here. what do you think? >> we good point it's one of the most vulnerable stocks but the fed is set to start the party again. in the post pandemic world, this is a company that was dominating and disrupting the hospitality industry and moving into other things that's where the disconnect has happened we're talking about the stock. they're raising $2 billion in a convert. they're doing exactly what they should be doing, right they made some very quick moves at the start of the pandemic, reducing costs, cutting staff, that kind of thing this is a well imagined company and this is a company that provides a service that's been

disruptive to one of our biggest industries in the country. but yes, it could be vulnerable. when i see a company doing a $2 billion convert a couple of months after they did sh o or they came to the public markets and i'm saying to myself this is probably a soft management >> coming up, blasting off shares of rocket going to the moon today we're going to dig in to that one. talk about a liftoff the headline that sent the stock soaring in the after hours we'll bring you details when "fast money" returns they know exactly which parking lots have the strongest signal. i just don't have the bandwidth for more business. seriously, i don't have the bandwidth. glitchy video calls with regional offices? yeah, that's my thing. with at&t business, you do the things you love. our people and network will help do the things you don't. let's take care of business. at&t.

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delegating? oh, good one. move your xfinity services without breaking a sweat. now that's simple, easy, awesome. xfinity makes moving easy. go online to transfer your services in about a minute. get started today. welcome back to "fast. we've got a market flash on lyft here's details. >> melissa, the company is seeing a recovery in ride sharing as soon as possibler than expected. the last week of february was its best in terms of volume since the pandemic lockdowns began. it expects march volumes to turn positive on a year over year basis. the company says that that should allow it to narrow. it's adjusted ebitda getting it closer to achieving that profitability target later this

year uber ceo was asked yesterday at a conference about his outlook and he was more cautious, saying they're seeing greats shoots, but it's just too early to tell. i i asked lyft ceo what made him so confident and whether it had to do with their continued focus on ride sharing. >> all we do is think about our transportation network we wake up and go to sleep in the u.s. and canada a different footprint. our strategy isn't just transportation >> so perhaps the little bit of shade there. uber of course has made a big move in delivery to make up for lost ride sharing. question is going forward, is uber ready for rides to pick up or has food delivery been a distraction? we'll have to see on that front. back to you. >> when he was being more cautious he was talking about the business as a whole as opposed to just the ride sharing segment? >> he was talking about ride

sharing but he wasn't just talking about the u.s. he was talking about europe as well because uber does have a more global footprint where lyft only focuses on north america. >> deidre, thank you tim, this is why so many people had liked lyft in prepandemic. post up-and-downic, it was uber, food delivery. that off set the slump in ride sharing. now more specifically north america. >> but if ride sharing is what's taking them to the -- why does lyft come out of this better on ride share than uber's ride share? to me, maybe i'm not representative but i think there are consumers out there who are relatively indifferent and they're price sensitive and uber over lyft or lyft over uber is all about timing there are places where one app

may have greater inroads than others but if it's -- it's excited to be investing in lyft the ride share business is with uber the numbers are telling you february was up 5.4% month over month for january. i think what this is about for a stock that into these numbers was up 150% from november 1, 150% from november and this reaction tells you overshoot on the way up as you overshot on the way down i think there's a number of companies that are going to do it pebt-up means you get a reaction that's disproportionates to the up side than you had on the down side i think that's what we're getting. >> yeah. and you were kind of skeptical when it came to the forecast >> especially juxtaposed to what uber was saying yesterday. i believe that uber has created a better network effect. i was one of those people before

the pandemic that said i'd like to focus if lyft is trying to get to profitability their focus on north american ride share is an easier way to do it. coming out of it, i think there are so many consumers that might have used ride share before. i think that's going to help uber on the way out. i'll just make this point about lyft they are going to be around for a long time. this company is expected to be about $3 billion in sales. they're supposed to lose about a billion of that income there's a long ways away from being profitable you could give me an ebitda loss, this or whatever, profitability is the thing going back to our conversation with the professor, earnings matter you can put any five letter thing around it with a negative sign, it's still a loss. >> bonawyn, uber, lyft, or none of the above. >> i'm relatively indifferent. i'd say lyft is a bit cheaper

and for that reason i think it's a better exposure to the reopening trade. >> news alert on the vaccine front. let's go to meg for that meg. >> hey, melissa. i just spoke with merck's mike nally, senior vice president, and the chief marketing officer about this johnson & johnson vaccine partnership and about how it came together he told me in terms of timing he expected they can within a couple of months bring on the fill and finish part of this, really getting the vaccine into vo vials. i was trying to get a sense of how much this will increase johnson & johnson's output i have heard from johnson & johnson, it's going to surface doses in 2021. we don't know the timing of that and merck not seeing how much capacity is going on board

but they say the vaccine process is extraordinarily productive in terms of making the vaccine. they noted there's not going to be any other disruptions they had been building up capacity for their own vaccines and they didn't pan out, so they are using that capacity to mike this they also say they're more vaccinating partnerships for other drugs. they announced funding from barta in order to then them bring that up. we talked about the significance of this. a lot of folks comparing it, including president biden to world war ii and the business tefrt there. mac nally telling me he sees it coming around penicillin this is a new version of that with this up and down irk. mel. >> yes, very good news thanks for bringing that to us we heard prior to the shift from kayla tausche that priced was very optimistic.

he moved that time line up to by end of may that has significant implications for the reopening of this economy, guy we were talking about lyft and uber it could be that things open up much quicker and we see that snap-back much sooner. >> something tim's been talking about and hopefully that happened as i mentioned, as a human being i look forward to that what i will say, though, in terms of the market, what's great for the economy might wind up being bad for the market. just to drill down quickly on some of the big cap pharma names, eli lilly, merck to a certain extent, bristol-myers, all since the middle of january have traded poorly makes you scratch your head. that concerns me a little bit because big cap pharma was something ig liked since all of them pretty much made significant highs in mid to

late january. >> we should know that johnson & johnson ceo will be coming up. in the meantime, here's what we have coming up on "fast. >> the unlikeliest of couplings, a mattress exec and a security company coming together for the spac of the season is this a match made in heaven or is it aig sn we've reached peek spac? we've got that and a lot more when fast"fast money" returns vi? it wouldn't be a miracle because geico gives you a team of experts to help manage your claim. it's going to be a nail-biter. no, the geico team is there for you 24/7. geico is awesome, baby! (shouting) too much? i think we got it. yeah. thanks. thank you. geico. great service without all the drama. sales are down from last quarter thanks. but we are hoping things will pick up by q3.ou. yeah...uh...

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♪ ♪ love it when the tv give exposure to spacs ♪ ♪ you know i'm noticing that. melissa sharp is attack. we know it's a fact snoefd snoefd. >> you know the song "sac

dreams." now there is a new name. cyber security complex going public with the help of the ceo of casper. you her that right the head of a mattress company is taking a cyber security firm public that got us thinking are these spac dreams starting to turn into a nightmare hello, bob >> good to see you as always is the spac craze slowing down on the surface it kind of looks that way the spac 50 index which tracks the largest spac deals we market capitalization hit a high of 138 on february 17th it's gone up abilities 12% since then there may been explosion they're not immune from normal market forces. that's the day before the spac index hit a high

it too is down 12% from its high the s&p 500 also made a high on february 16th. what do they all have in common? february 16th was when interest rates suddenly popped. the 10-year treasury yield went to 2.9% in a single day and continued to move up for almost the next two weeks the most likely explanation is that spacs correlated to market conditions if stocks are having trouble due to a rapid rise in interest rates, spacs are likely to have concerns as well one thing is for sure. the spac is continuing unabated. they're overwhelming the traditional ipo market this year year to date, 203 spacs have raised $358 billion. there's been seven, a fourth of that number who have raised about 22 billion put simply, 75% of the dollar value of all the money raised this year to go public is going

to the spac market over the ipo market melissa, i think the right conclusion is here, they're very dependent on market conditions just like ipos are independent on market conditions and probably will be going forward i think it's a good insight. back to you. >> thank you, bob. just within the past hour or so we learned that linar and the ceo are going in on, what else, a spac called doma to do an acquisition in the reasonable real estate market what do you make of this even if the market conditions may be getting worse, there are still spacs just flooding the market >> yeah. let's talk about this one deal today. this is actually how a spac was meant to work, right, when you have an entrepreneur like c casper, he lines up a bunch of capital because people believe in him

then he enlist as guy like bill foley and they go buy a company run by a stud. i don't know if you saw it on the exchange earlier, this guy jason crabtree the funny thing about this deal today, it's not working. it was down. some of the sexier ones in other spots, they're going to to the moon i think it's interesting it might be a sign of where we are and maybe something to do with the interest rates we were talking about earlier. >> and being more selective -- it's no longer buy a spac, and it goes higher now with enter rates going higher, you actually have to look at the management and maybe wait on the spac >> absolutely. being that a lot of these are premerger, pretarget type of companies, so much weight and

value is essentially in finding the right management team and the ability to raise capital what i do see is a continued evolution in terms of spacs, time allotted in terse of finding a target, transparency in terms of making it known and the time frame make it known i continue to think this market will evolve. yes, it speaks to investor sentiment at the moment. we've been bulled up i think it's logical that things are taking somewhat of a pause, given the speculative nature >> let's dig more into the spac boom with someone who actively is in this space he manages the accelerate arbitrage fund that tracks spacs. julian, welcome. >> excited to be here to talk about spacs, so let's get into it >> let's get right to it, julian has the easy money been made

i'm asking this because i'm wondering, with market conditions being a little tiffer, is it harder in your view to invest in spacs? >> it's an interesting dynamic and there has been a big flood of newish wants. the ability to pick the right one is super tough these are blank checks at the end of the day so we prefer a diversified approach we think there's still good opportunities but one does need to to their due diligence and be selective and smart about it you can't just go and buy everything you need to do your due diligence. >> can we talk through a spac investment you have made to see how the process works at your firm let's take northern star investment three what do you like about this? what stage are they at and at

what stage did you buy this spac >> it was actually one of the ones we're buying today. it was a new ipo issue that came out today. the ipo market had been super hot for the past three months. most were massively oversubscribed i run a fund we do subscribe to ipos. they've been increasingly more difficult to get access to those because large funds are coming in pushing out many of the other guys, but now investors have the opportunity to buy northern star investment three add the $10 per unit price you get a one-celtics of a warrant. this is the third spac focused on consumer and e-commerce they had two spacs both relatively successful

bark box deal is looking like a winner it's really the opportunity in northern star investment three and stc/u. you're buying the unit at $10, which is its cash value. you're getting the warrant for basically free you're with a good sponsor theme has experience and you're getting to invest at the same price and the same terms as these billion hoej funds, so i think it's a good pick >> in terms of the management team and the people involved, is it important for you for those people to have industry experience in the industry in which they intend to make the acqui acquisition? i guess i'm going back to this complex field today where you've got the ceo of kasper buying a security firm. >> there aren't any hard and fast rules this complex deal with phillip

chri krim i think the market was surprised to sigh this risk analytics platform within the business combination. the transaction was a bit muddied by two additional acquisitions within the announcement plus it was not a good day for the spac index, accelerate spac index was down 2.1%. a rough day in general on the flip side of things, some of the most successful spac deals were blank checks that pivoted. say they had a mandate to do like an energy deal oil and gas or a cannabis deal many of those flipped to do a transaction in electric vehicles, battery technology, those ones who are proven to be big winners. the mandate only means so much and we see spac sponsored teams commit all the time, so it's not something that's too surprising.

>> thanks so much for making yourself available would you mind speaking to the dynamic with spacs and venture capital and how you see that dynamic evolving as spacs become more well known and more popular and just in every day nomenclature >> they're involved on two sides, one can be an exit opportunity for a public company, going public and you're seeing more and more venture capitalists start to sponsor spac they're effectively a one deal venture capital firm the sponsor promote or the competition is quite lucrative if you can announce and strike an attractive acquisition. venture capitalists by nature, it's their job to have good deal flow they the end to be one of the most advantaged spac sponsors in terms of the opportunity set that they're able to look at and if they can funnel those

opportunities into their own spacs, then more deal flow for them, more economic opportunity, and we are starting to see certain venture capital firms become very aggressive we've seen a number from social capital, dragoneer, it should be interesting to watch those. >> thanks for your time. appreciate it. team, just quickly your two contents on spacs. >> investing in the right management team and their ability to access deals and choose over and again the mandate that julian referenced in some cases it evolves, but that's the most important thing. we go back to what bob talked about, which is the liquidity in the market has everything to do with what's going on with spacs but it isn't as spacs would be a vehicle. i think a fantastic vehicle in a public rapper for investing in

public equity, he mentioned cannabis, those are spacs i may be involved in in this future. >> coming up, it has been a bountiful harvest, but is it time to reap the rewards xte chart master will be her ne i'm made to move. but these days, i'm not getting out as much as i'd like to. that's why i take osteo bi-flex. it helps with occasional joint stiffness, while it nourishes and strengthens my joints for the long term. osteo bi-flex. because i'm made to move.

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target unable to hold on to early gains. the company did not provide guidance for the year ahead. guy, good news bad price action. >> that's the third example on the show having made an all-time high of 199.86 or so, stock's down about 13%. that's troubling i think valuation's coming a concern and will they be able to pass them on walmart, costco, the same thing. it still feels like there's pain ahead for target and walmart >> coming up betting the farm the chart master says it's time to harvest tractors.

why the rocket emoji is red hot right now. much more "fast money" after this ♪♪ in boxing or any other business, one day, you're gonna take a hit you didn't see coming. do you stay down? or do you get up?

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the tractors are up big. it might be time to harvest, the chart master says. carter, take it away >> well, before we get to the charts, these are darlings and yet strangely, the sell side has price targets for both stocks 12 months in advance that are lower than the current price, so perhaps not darlings first chart, what i've done is taken cat and deere and plot them they both have about 110 billion market cap, so the two lines you're looking at, the first is cat and deere, one security juxtaposed against the s&p it's a one-year part you can see that the cat/deere line is up four fold over the s&p, up a hundred percent versus 2 26% on a trailing 12-month basis. next chart is a 15-year chart. cat and deere plotted equal weight versus the s&p.

here we see more than a tubl, meaning cat and deere up 420 versus the s&p up 200. third chart. now we're looking at the basket itself a two-stock basket cat and deere 1980 all the way to present you can barely see the past prices, it's been so steep the next chart is a log chart, exact same chart except arithmetic, it's log rhythmic. final chart, you can see it here i've put in the channel. cat, deere as a single security has been ascending inside this channel. every time it gets back to the channel it gets away bottom the channel, it's bounced. we're now slightly above the channel. the thinking is these are a little bit ahead of themselves to put that into context, consider the following each stock is up 11 months in a

row, neither has ever done that in its history all right. each stock is trading at a record high price to sales and each stock right now is trading at a level that the 47 analysts that cover them believe is so high that their 12-month price kargt is below where the stocks are trading now. whether you take it from the south side community or the charts, either way, i think the message is take profits, reduce exposure, right call, do something. >> carter, thank you guy adami, i go to you probably three or four times you've given cat as your final trade. you meowed once, i believe >> yeah. >> what do you make of this trade now? >> it's amazing. carter, you know the way he speaks in sort of those dulcit homes, he's terrifying in his

cadence and pitch. he scared me i understand what he's saying. i would push back and say, listen, on a valuation basis given their earnings growth, caterpillar is cheap the run has been unparalleled. maybe it's time for a pause. he's also right that analyst community hasn't ratcheted up their price target so maybe caterpillar got ahead of itself. good for cww bad for the meowing me >> the chart on deere is gaudy, as guy would say i think i would take cat over deere. i would prefer, though, to earn in the mining space, the folks the that are mining, caterpillar, sure. look at the price in copper, copper saying there won't be any spry in copper for eight to ten years. go the miners. they're the ones that ultimately are the bishies of all this

activity >> coming up, blasting off is this stock the new target of the reddit rebellion the trade and the name when "fast" returns ♪♪ this is what community looks like. ♪♪ caring for each other, ♪♪ protecting each other. ♪♪ and as the covid vaccine rolls out, we'll be ready to administer it.

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money. take a look at rocket companies. triggering two trading hauls due to volatility. think of prorm that tracks reddit mentions rocket rocketed into the fifth most mentioned stock on reddit today. so let's trade it. no coincidence, this is a stock with a high short interest, more than 40% of shares and a very small percentage of shares are actually actively traded i think these have 94% are shares in a class not traded, so perhaps magnifying that short. >> without question. we should note that rocket is i believe the third song on deaf leopard's "hysteria. >> i was just thinking that, uh-huh, uh-huh >> i think this absolutely fits the description hook line and sinker think about some of these names. this actually is a company that really is a story as opposed to

a structurally flawed company. i think this is one you have to be a lot more careful about on the short side, especially when we've seen that valuations really don't matter. >> maybe we should do a trade school here, guy if you are short in stock. the stock pays a dividend. what happens to the person who has that short they are obligated to pay the dividend so rocket today issues dividend. >> good. >> ight? so -- >> yeah. >> you would think the earnings are going to the hills right now. >> they're scampering. listen, i -- not that i thought this move would happen let me be clear. but if this move were to happen, i thought it should have been last week. frankly, there was a significant earnings increase. i don't know why it happens today tuesday as opposed to i guess it was friday when they reported with that said, being a short

seller on this environment, playing things from the short side to take advantage of things gone lower it's an impossible game now. that pendulum will swing back at some point but you've taken one of the players out of this market everybody will cheer that and think it's a good thing. i will tell you that when the incremental buyer is no longer there, things are going to be problematic. >> bonawyn, you spotted some pretty good activity on this one. >> absolutely. so taking a look at options volumes, options were ten times what we typically see on daily trading volumes. with calls outpacing puts about three times to one this was a very, very much at the fore front of people's minds. options are implying about a 50% movebetween now and march. the trade that jumped out to me, traded over the course of the day, being mindful this stock opened sub30

75,000 march 50 calls traded for an average price of 315, putting it at about 133% of current spot i don't expect people to hold those to maturmaturity being for the fact that it is 35 to 40% short interest. absolutely a very dynamic trading session today. >> that's a nice way of putting it for more options action, tune in for the full show up next, final trade. i'm searching for info on options trading, and look, it feels like i'm just wasting time. that's why td ameritrade designed a first-of-its-kind, personalized education center. oh. their award-winning content is tailored to fit your investing goals and interests. and it learns with you, so as you become smarter, so do its recommendations. so it's like my streaming service. well except now you're binge learning. see how you can become a smarter investor with a personalized education from td ameritrade. visit tdameritrade.com/learn

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time for the final trade let's go around the horn tim. >> reopening trades that still have some gusto left go to the back of the center of the storm in melco resorts take a look at this one. >> nathan. >> yeah. you're looking for an in depth short right here, iwn, breaking the up trend, massive outperformance >> bonawyn >> reopening trade with relatively fair valuation, unp.

>> guy adami >> the irony of space doing a round trip from 33 to 63 back to 33 is not lost on me you can try space for a trade here mel. don't go 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 trying to make you money. my job is not just to teach you but educate and entertain you. call or tweet me @jimcramer. what does it mean to be optimistic do w