channel retail and digital health strategy. it will be the get to know you quarter, guys. >> bertha, thank you the stock is up 33%, best performer on the dow bertha coombs. we'll look for president biden to announce his new infrastructure package and importantly, how they're going to pay for it, whether that includes higher taxes. >> we certainly are. we were down a third of a percent. "fast money" starts now. i'm melissa lee and this is "fast money. guy adami, tim seymour lululemon is lower, we'll bring you all the headlines straight ahead. plus new details on president biden's massive infrastructure plan. the expected price tag, $2.25

trillion later, a key piece of data showing u.s. consumers are ready to go on a shopping spree. we'll break down the stocks that could see the biggest boost. we start off with -- that's right, there's some risky business going on in the market right now. check out everything in play the most recent example, a hedge fund going bust. there's the bitcoin boom and explosions in trading activity investors are still saying bring it on. 51% of individual investors think the market is still heading higher from here so are we pricing in enough risk guy? >> i know you remember when that movie came out the great tom cruise in his breakthrough role. rebecca de mornay was fantastic,

just wanted to get all that out there. is the market rising in enough risk absolutely not vix closed below 20 again on the lows it's amazing to me, the complacency in the market. there's still this belief that the fed has our back, liquidity is ample, and although selloffs are going to happen, they're going to be brief, short-lived and very shallow right now that belief system is right. i'm just not certain how long it can last >> at the same time maybe we're climbing a wall. we had rated the ten-year yield at 13-month highs, nadine, the market seemed all right with it. we didn't see that sharp selloff we've seen in the past >> you're right, mel volumes today are down even if the market was weak a little bit today, you didn't hear it in volume. people are waiting for the infrastructure bill details.

there's a lot of waiting going on which has led to light volumes and a bit of worry over all this news. whether it's the spacs or hedge funds blowing up we like the nonconsensus view, i would rather go long while everybody is worried and waiting around >> also it's a holiday shortened week, we're off on friday, markets are closed it's interesting to note with all this risk taking going on, the risk doesn't seem worth it in big cap technology stocks and high multiple technology stocks even with interest rates at historic lows, tim so there's risk seeking in the market, but only in certain places >> mel, every once in a while you have to say what the heck, right? i think hedge funds have been doing that if you look at hedge fund leverage, it's a case where jpmorgan put out going, hedge fund leverages it, highest level since 2007 or not ltcm levels of

1998-'99, in a different place than at the beginning of the crisis funds are taking risks retail investors have been taking risks we've been talking about that for the last three or four months the vix to me, near the bottom of the cycle lows, you have yields that look like they could be breaking out. i think there are risks. i'm going to also fall on the side that i kind of like where the market sits here i like the wall of worry i like the sectors that are going to continue to be the rotation industrial, call them the value sectors, whether they are or not i think the risk is to the upside of a big payroll number on friday. >> we mentioned options activity exploding. the precise number is equity options volume is up 85% last year compared to the year before so this is a huge, huge increase that we have seen. so what do you gauge

is that the right kind of trader, is it people going out on the risk curve or is it people hedging positions what do you make of it all >> i think it's a mixture of all of the above what we have seen is a lot of upside call buying that is more speculative in nature i think you hit the nail on the head in terms of the risk in the market generally speaking i think the risk is being priced the vix, although it's flirting with the 20 level, is higher than it's been in previous regimes which is sub-12. i think you do see some pricing of risk in there when i've trying to get my bearings together and level set, i look to other macro indicators the credit market, again, an indicator of risk. you have new issuance saying investors have an appetite for risk i don't see that abating there is going to be some delineation between large cap growth names -- sorry, growth

names in general vis-à-vis large cap growth names you're seeing growth generally versus value there is some maneuvering going on i do think it is a risk on posture although the risk reward has clearly shifted. >> i want to correct myself, options volume up 85% compared to 2017. it's a bigger span but it's still a huge increase. guy, we're six minutes into this program and i thought with this lead that we're starting off with, someone would have mentioned jerome powell by now and yet here we are six minutes in, guy. i'll give you a crack, because he has a role to play in all this >> he is the tom cruise of all this it's interesting that tom cruise's name in the movie was joel goodson and he was anything but a goodson. i'm sure jerome powell thinks he's doing everybody a favor but history will come to realize they're doing more harm than good quite frankly we seem to mention

him every night, i know he's a fan of the show. with that side, i never heard of archegos, i can't pronounce it right, maybe i heard of this individual when he pleaded guilty to $60 million worth of fines, i think it was. when something with that magnitude has $10 billion price tag seemingly associated with it, you have to wonder there are a lot bigger places out there. you wonder what the type of risk out there that we're not talking about and that risk-taking on the back of easy money which has license around now for the last 13 years you clearly said that to wire me and get me all tweaked and you were clearly successful in your efforts. >> let's be clear, it's not just archegos seeming to have imploded, but there's also the example of gabe plotkin and melvin capital, by all accounts a solid investment manager yet

he clearly went on the risk curve and his game stopped short and look what happened, tim. in another kind of market environment, would these sort of outsize bets, going out on the risk spectrum, they would have happened, but maybe -- i don't know, maybe not in this quantity >> so my first question is, mel, did you ever throw a good old party when your parents went out of town in high school >> what do you think >> i'm sure you did not. so these two hedge funds we talked about, these guys are tom cruise these are the guys that drove the porsche into the water so -- and literally, the metaphor is perfect, isn't it? so i think you have a case here where although hedge funds have been saying what the heck, all those lines that were pumped out at joel in the movie, the fed is giving the opportunity to throw that party and to know when in fact to get everybody out of there much better than joel did.

i think you have a case here where the fed will let it run hot. look at the long term yield chart on ten years 240, there's a ton of resistance i don't think we're going past 220. in this environment with the economy opening up and possibly overshooting, look at today's consumer confidence level. it's a great environment for stocks >> so the bottom line, you like this environment for stocks? do you like this market setup? >> i do. i do, because you've seen the volume is low on these down days and i think people are just waiting. they're waiting for more information. so i would rather play on that than not but on the counter end, you look at a bank in japan like mitsubishi, there are still other bodies buried out there. i think that's really where people are concerned, is what else don't we know about that's what folks are here talking about, who is the next -- it used to be tiger asia, but who is the next tiger asia to come out and say, away highly leveraged, made the wrong

bet, didn't have the right risk management protocols and are now leaving our friends left with a bag of you know what, it just doesn't work out that is really part of the fear. if you can find the right positions and that people are waiting around for and going early, i think that's the opportunity. >> there could be a lot of bags of you know what out there, that's for sure. with all this risky business in the markets, our next guest has some safety plays. it's time to go off the charts with chris verrone of strategas. >> let's think about the bigger picture. we had tech come down 12 i think the question out there, is there another shoe to drop. we all know you can get correction for any reason. i don't think you get major tops for any reason this first table we brought, despite the correction in small caps and in tech, 95% of the s&p 500 is still presently above the 2

200-dma. in october of '07, only 30% of the s&p was above the 200. in march of 2000, it was only 50%. as you get to these market tops, you tend to get participation getting very narrow. that simply has not been the case despite these pauses we've seen over the last several weeks. so i think we're probably okay structurally it doesn't mean you can't get a pause. let's focus on what the leadership here is i think what's been very telling, tim touched on this as well, as parts of the market has softened, other parts have actually firmed. i think industrials are a great example of that here industrials consolidated for the better part of the last couple of months. they've reaccelerated here, particularly in relative terms the improvements in things like aerospace and defense are notable, in things like building products so industrials are telling us, even in a little bit of a sloppy way, there's still leadership. same story with the homebuilders here i know there's so much discussion about at what level

do bond yields hurt the market, at what level do bond yields hurt homebuilders. not here, we have homebuilders, building products, home retail, new highs. look at pulte, leonard, horton, the market's probably okay, focus on these areas of leadership lastly i do want to acknowledge in this defensive group of names, that you have seen some improvement in the consumer staples. you had 75% of the staples make a one-month high this week that's a modest improvement. i don't think these names will be durable leadership. i at least want to acknowledge the momentum that you've seen here you look at some of these names, tobacco has been one area that has been kind of in our work, one that's getting better. philip morris i think is an example of that, it's been trying to break up for three or four years we think it probably does. but listen, overall the market's been a little sloppy under the

surface. we think we're okay. focus on where the leadership is industrials, homebuilders, some staples are a little down. >> but the trend is impact, chris? >> listen, you just don't get major tops when 95% of the s&p is over 200. that's overbought. you can correct, but that's not where your major tops historically come from it comes from narrowing and that hasn't been the case >> chris, thanks as always do you like any of chris' leadership ideas >> i do. i really think he hit the nail on the head there, the word that jumped out to me was momentum. picking the industrials, right, we've all said this before, these are value names that the valuations are a bit stretched, but they are now trading with momentum for that reason, i mean, i couldn't agree with him any more >> philip morris, that is one stock we haven't talked about in a long time, international

smoking. tim, i'll go to you on this, i feel like at one point you had owned this, trafficked in it >> yeah. i trafficked -- be careful, we're getting back to "risky business" stuff here yes, i do think the story for philip morris, even for altria, this isn't entirely a tobacco bako story, it's a yield story. unfortunately smoking has not been cut back the way it has been in the western world. i like philip morris, i like the chart for sure i like the investment strategy that and altria still work >> how about you, nadine, what do you not like? >> definitely industrials. i don't like the staples i get concerned, as we've seen before, it's a bond-like security, staples are. when rates go up, they tend to go down, similar to utilities. you have to be really careful and note fundamentals if you're going to pick out staples versus

broad brush buying staples same with utilities, you have to be careful there i like industrials, the materials that go into industrials and services, i think he's right in the momentum there. but you have to layer on the yield story going higher and you need to be careful coming up, chairs of lululemon and chewy on the rise. plus consumers are gearing up for a shopping spree. we'll tell you the key names you want to be in on when "fast money" returns

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welcome back to "fast money. lululemon's conference call is under way. let's go to courtney reagan for all the numbers. >> hi there, melissa the top and bottom line with strength internationally and online international revenues grew 47% and on the earnings call, the ceo classified international growth as still in the early days north america revenues grew 21% as did total comparable sales, with the correct to to consumer portion or online up 94% the store component, though, was down 28% lululemon's online sales made up

slightly more than half of total. that's up from 29% last year gross margin increased but operating margin fell. lululemon's first quarter earnings forecast is ahead of analysts' expectations though the full year earnings range is below estimates although the revenue forecast is well above analysts' consensus. it made its first acquisition in 2020 of the digital workout mirror it's expected to grow 50 to 65% this year. it says lulu sees the average member taking over six different types of workouts each month the call is ongoing, but they keep talking about how they're going to invest even more than initially planned in mirror in this year and years to come. back over you to >> cort, thanks, courtney reagan on lulu.

how do you trade this one? >> lulu has done a great job at finding disparate parts and create an overall lifestyle brand, not just a clothing brand. the issue is they just have challenging comps going forward. 2020 just isn't going to be coming back anytime soon, knock on wood hopefully ever listen, i think you kind of trade the chop here. it's going to trade slightly a bit sideways you probably can get long here but with a pretty quick stop >> what's amazing is the direct to consumer revenue, more than a half compared to a third in the year before. nadine, presumably those are higher margin sales, does lululemon get some credit for that >> i think you're right. at the same time people are saying what's coming next. so you're looking at is the company accelerating or deaccelerating i think that's what bonawyn is

getting at there if it's not accelerating, you have to trade the chop that said, i'm looking to see later in the year how their footwear business is doing, how their online continues to do versus in-store. it's a strong management team. they've got it right we happen to be a peloton family but i think mirror is a great acquisition. so you do want to own this company. it's just at the right price it may not be now. check out to see if there's continued weakness and then you can enter. >> the call is under way, we'll bring you the headlines as we get them another earnings alert on chewy, shares are soaring. the online pet retailer posting strong sales growth in their first quarter positive net income closing bell just had the ceo on, he talked about the surge in pedestrian ownership, guy, that means a lot of bones and chew toys to be purchased >> i have two dogs currently,

none of them seem to be interested, maybe i'm just doing it wrong in terms of the stock, i think it's still got legs here it traded up to 120 in medicine feb in mid-february, down to 75. coming off the margins, there's no reason to think we can't get there. despite the movement in afterhours, i think there's room to go higher >> maybe your dogs would like baby yoda, they have those too >> forget giving it to the pet, how about i snuggle with baby yoda chewy held the bottom end of that upper trend line. as long as they're growing 30 plus percent, it's a great position to be in, in a place where people will spend almost anything on their pets so i like the margin profile as well coming up, betting big on america. president biden just hours away from unveiling his massive infrastructure plan. how you can trade tomorrow's

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welcome back to "fast money. we're following new developments out of the white house president biden expected to outline his massive infrastructure plan tomorrow our kayla tausche joins us with more on this story kayla? >> melissa, it will be the first of the president's two-part build back better economic proposals. cnbc has confirmed the "washington post" reporting that this first phase will include $2 trillion in spending with an additional $400 billion in clean

energy tax credits also new money for roads, bridges, waterways and broadband, and investment in housing and care for the disabled white house press secretary jen psaki says taxes will go up and president biden wants to reward work, not wealth >> he thinks it's responsible, it's the responsible thing to do, to propose a way to pay for that over time so -- and he also believes that there's more that can be done to make the corporate tax code fair >> lawmakers are already posturing to include their priorities more than two dozen senate democrats are pushing for recurring stimulus checks to be part of this plan. and also several lawmakers in the house from new york and new jersey are saying they won't vote for an infrastructure package unless it reinstates the state and local tax deduction that was removed in president trump's tax bill sources briefed by the white

house suggest that unlike the stimulus plan which was nearly a carbon copy between the initial proposal and the final law, this infrastructure bill is going to be heavily negotiated between the white house and congress as they try to gain additional support, melissa >> kayla, thank you. kayla tausche. so with a lot of sort of the specifics yet to be determined, guy, what's the takeaway in terms of trading this, especially when you're trying to factor in this notion of tax hikes? that's how this plan will be paid for, because that could actually outweigh any of the positive impact on the markets >> yeah, well, let's try to dissect that quickly how do you trade it? karen has pointed this out, literally for months if not longer i'm pretty confident it made an all-time high today, if you look at that stock, there was a $70 stock last march that closed 335 or so today and probably even given valuation it's probably

still reasonable in the earnings in april we've mentioned caterpillar a number of times. in terms of taxes, you would think at some point the market wouldn't like it, but if you're talking about $2 trillion, which is the number i just heard, you could tax this entire country at 200%, it's not going to make a dent i think we all realize that. i think there's some optics involved here. but the market seems to be completely discounting the fact that taxes will go higher. we started with "risky business," we'll add that to the list as well >> taxes not just for individuals but for corporations remember, that was sort of the juice that got the markets going in the first part of trump's term, nadine how do you dissect this? is there a trade, in your view, on infrastructure here >> we've been long infrastructure plans around the world, you can continue that in pockets. it could be services like perrine or large conglomerates,

energy companies around the world or products that go into green energy buildings, green energy products. those are i would say a basket you could still be long even without the details. but at the same time, you do need to be careful it's also an employment bill, right? it's not just infrastructure but it's an employment bill. so there's going to be a lot of other people out there benefiting from employment what will they do with their paychecks? what will they do in the next few years? so we're looking to call it the second or third layer, a drea rifftive of the impact of this type of bill >> material stocks that have been named in the past, vulcan materials, martin marietta, and there is thought there could be an ev credit in this on top of the $2 trillion in this package. we saw tesla go up today as well as cciv. bonawyn, i'm wondering if that's

where you think the boost could be >> yeah, i think that's a great call it's hard for me to make the argument for tesla to be honest, given how opaque that name is, it's hard to see what is actually priced in i would probably maneuver it slightly different a name like run, first solar, those names ahave come off quit a bit from their recent highs. those would be an opportunity to reenter there and play the spending bill through that angle. >> tandy, tf, was up a few percent in today's session tim, where would you go on infrastructure and how would you factor in the taxes? >> i do, and solar companies are run very differently than the growth at all costs of yesteryear, these are in some cases very profitable companies. i still like steel companies, new corps, specialty kind of steel. u.s. steel closed at 28-month highs today, hot roll coil prices are at 20-year highs. i still think masco, which is building materials, has not had

the kind of run that's representative of some of the infrastructure but where these checks are going on the consumer level? they're going to home depot and lowes. i think these are stocks that have not only pull back, consolidated, but what we'll see in terms of the margin, both these companies have invested in their digital platforms and in their businesses and i think it's going to come out in the next couple of quarters of earnings >> speaking of the consumer, coming up, break out the credit cards, time for shopping sprees retailers could see a flood of spending, when "fast money" returns. you need a financial plan that fits the way you want to live in retirement. a plan that can help grow and protect your money. now or in the future. with an annuity in your plan to help cover essential expenses, you can live the retirement you want. the right financial professional can show you how. this is what an annuity can do.

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welcome back to "fast money. call it a consumer comeback, consumer confidence rising to the highest level in a year. a dive into the data shows an appetite for big ticket purchases. those planning to buy a new car hit the highest level for july for new appliances, the highest since february, pre-pandemic expectations for buying a home, the highest on record in the history of the survey, which is 40 years plus old. this all comes as americans sit on the highest personal savings rate in four decades they're getting stimulus checks as well.

time to take your positions. where do you want to be ahead of this shopping spree, nadine, what do you say? >> i've got three related plays. one is going to the casinos. we like macaw for names like medicalco, lbs, wynn same thing with travel, could be expedia. my three kids cannot wait to get out of even a great town like palo alto, they want to go anywhere people will spend on services, not just products. and then you said autos. we love vw for all they're doing in the ev space. they're doing fast charging points in europe they're going to have i think it's called five times the next four years in terms of amount of fast charging points in europe lots of different ways to play this >> what was so interesting about this data is the intent is to spend and they actually have the money to spend we're saying personal savings rate was high. it is estimated that during the pandemic, u.s. households saved

$1.5 trillion, $1.5 trillion potentially to be unleashed onto this economy, bonawyn. what does that make you go to? >> i kind of want to parse that out a little bit i will say that that savings rate has partly or mainly been concentrated in like the wealthier pockets of the united states that correlates well with who has benefitted the most from asset price appreciation kind of letting that trickle down, i actually think that, you know what, i'll be looking at services travel, leisure type activity as opposed to durable goods we have seen a pickup in that, i think that will abate. we'll see that trickledown effect in those parts of the market >> we're also talking about housing, home prices are at 15-year highs, tim, and the att intent to buy an appliance, that

brings to mind a power pitch you did on whirlpool >> it was a power pitch, and in terms of light durables, yes, we get that consumer confidence number told to us a lot. the delta, the change month over month, is one of the greatest we've seen in all time, the second biggest move. the question is has the fed priced people out of the market. how about visa and mastercard and the spending profile there i think that's a place to be very excited if you're a consumer i would just go back to walmart and best buy i'm longw walmart they're in a new e-commerce environment and with new stimulus checks going in, best buy, how many people walked in and bought an apple product or new computer they'll continue to do that. >> visa and mastercard, that's how consumers will spend how will they look to find things to spend on, guy? they're probably going to go to their google machines and use google that's often forgotten in terms

of a reopening trade, so to speak, because a lot of the searches are tied to travel. in that respect there is the sort of reopening bounce associated with a google and its parent company alphabet. >> it's interesting, i'm sure people daoyou fo do that, back e day we used to highlight i like going to stores and seeing things, the tactile sensation of actually touching a couch at a restoration hardware or looking at one of the dutch ovens in williams sonoma which oh, by the way, both made new all time highs today those stocks, people knock them on valuation it's been the wrong thing to do now for the last couple of years. i still think that's room in both those names as well >> tim, what do you have to say, sir? >> mel, can you kick guy out of the couch that's in the best buy watching the tvs while i'm

trying to actually look at tvs >> i think they probably tried to do that >> i'm one of those people, absolutely >> you probably go to barnes & noble and sit there and read a back and not buy it. >> no, wait a second i love you guys, but i told barnes & noble, quickly, i told them they should change their business model, charge admission at barnes & noble, charge admission, get it back if you buy something. otherwise think about the revenue stream those cats would have had, it's genius. >> lost opportunity there, perhaps. bonawyn, if you are a believer in travel and then will be spent on services, can those multiples on those -- i don't want to say stay at home, but home stocks, stay high? >> they can, for the reason that i stated previously, which is that the spending is likely to come from different areas of the market it's been a k-shaped recovery and you're going to see that

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welcome back to "fast money. google facing backlash for reportedly refusing to take down a controversial rap song on its youtube platform let's get the details with deirdre bosa >> the song is called "meet the flockers" by yg. it has lyrics that encourage the burglary of asian households youtube says they find the song offensive but decided to keep it up anyway. their current policy allows videos that violate hate speech policy for artistic and educational purposes a representative at youtube wouldn't confirm the email but says in a statement, youtube has an open culture and employees are encouraged to share their

views. we'll continue this dialogue as part of our ongoing work to balance openness with protecting the youtube community at large on the one hand, guys, banning this song because of offensive lyrics could lead to calls to take down many other rap songs with racist or misogenous lyrics the episode also raises a lot of questions about youtube's scrutiny which often takes a back seat to facebook and twitter in social media discussions and congressional hearings according to a 2019 pew research center survey, youtube has the highest reach of any platform with more than 70% of americans reporting they use it, 69% less

than that say they use facebook while just 22% surveyed say they use twitter but melissa, when you watch pichai, zuckerberg, dorsey on the hill, it's almost always facebook and twitter that get the brunt of the questions and criticism. >> deirdre, you mentioned taking this one song down could lead to other songs being taken down for racist or misogynist lyrics. is there a reason to have songs up there that have racist or misogynist lyrics? >> youtube says there are exceptions when there are artistic benefits. i did ask them to clarify in the case of this song. i didn't get a response there. but, you know, that's what they're sticking to, it could be artistic, it can be educational, and one other category -- no, just educational and artistic. so they would argue that this song, called "meet the flockers," feits into one of those categories, they didn't

say which. >> deirdre, thank you. deirdre bosa on this story advertisers said they were going to have a one-month boycott for content they found racist on platforms and facebook specifically and some of those boycotts extended into year end this is the early stages of this, guy, but in the context of the political environment, of the rise in anti-asian hate crimes out there, this could be something much bigger that they're going to have to contend with >> given what's been going on, it should be something much bigger you watch the 11:00 news at night, at least here on the east coast, and seemingly every night for the last couple of weeks they lead with the story about this which is just reprehensible on any number of different levels so it absolutely should be a story. we look at things through the prism of the stock market and what's it going to mean for

stock prices for better or worse. google and alphabet frankly didn't bat an eye today, and steefle upgraded the stock from buy to hold. although this absolutely should be ramifications in terms of the stock, i think what we learned with facebook, the selloff was short-lived, it proved to be a huge buying opportunity. that's what the market is saying with google. >> we saw facebook, to be fair, emerge relatively unscathed from those ad boycotts. it's the small and medium sized businesses for facebook that make up the bulk of their advertising revenue. nadine, in terms of parsing out the potential impact on a google and specifically on a youtube, how do you think about it? >> i think guy is right, you're looking at what's the duration the duration for a trade today, there wasn't much impact but the duration for a trade in the intermediate term, it comes down to people people saying, i don't want to see this on youtube, i don't

want to see this anywhere on the internet, and having the power in the government to either have the companies police themselves and do it right or do it for them so i have a feeling over the intermediate term we could see some sort of risk if the companies themselves aren't going to police this in a greater detail but advertisers, i agree with guy, i don't think that that is a near term risk >> i think they're going to have to explain what artistic reasons are for having racist and misogynist lyrics, bonawyn, that's one of the questions i certainly have if you like through the guise of investing, this might also raise some flags >> certainly i don't want to mince words here first and foremost i want to condemn the racist activities going on but i want to put a period after that as far as how it might affect the stock market, i think the facebook trade has kind of informed this, unfortunately, in terms of the size and scope of

these companies that are under discussion, i think part of the reasons why they feel so encouraged not to take down such lyrics is because they know there won't be sufficient blowback to affect their stock price. i think it's just a vicious, sell-fulfilling prophecy it's really tragic, unforgivable >> we'll see if advertisers take a stand this time around for this issue we'll have much more on the rise of anti-asian violence here in the united states, catch cnbc's special report, "race and opportunity in america." we'll take a look at challenges facing the asian-american community. that is tomorrow, 8:00 p.m. eastern time please join us coming up, micron's on deck to report earnings tomorrow. is a chip wreck ahead? we'll hit the options. much more on "fast money." (i') the world loves a hybrid. so do businesses. so, today they're going hybrid with ibm. a hybrid cloud approach lets them use watson ai to modernize without rebuilding, and bring all their partners and customers together in one place.

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welcome back here's a sneak peek at the cramer cam catch "mad money" at the top of the hour the smh semiconductor etf has outperformed for the year.

let's get to mike khouw for more on this. mike, what did you see >> we're looking at the micron technologies, implying a move of 6% after they report earnings, in line with the 6% or so they've averaged over the last eight quarters the sector has seen stellar performance. today the most active were the puts that expire on thursday over 4,300 of those traded for $1.20, most of that was the result of an institutional buy that took place around 10:30 this morning the buyer of those puts is obviously betting the stock could trade below that strike by the $1.20 they paid, they believe there's some risk that the stock could fall 6% or more by the end of this week. >> tim, what do you think of micron >> i think we've had conversations over the last few years where makeicron has been a

cheap stock reflecting oversupplies in dram and ram i think it's going higher. the stock is not expensive on valuation. >> thanks for that, mike khouw for more options action, tune in to the full show next friday, we're off for good friday this friday, next friday, 5:30 p.m. eastern time up next, a pizza party happening on wall street is it time to tebi into these names? we have the trades, next ♪ ♪ ♪ ♪ ♪

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welcome back to "fast money. wall street is throwing a pizza party, papa johns and dominos getting bullish today. the city is feeling pretty good about dominos, slapped a $435 price target on the stock. guy, like any of these calls >> you know that i worked at the domino's for a period of time, i was employee of the month back in the day, which was really remarkable given that i had just started there. i think domino's is right, 25 times next year's numbers, not

expensive in the space steve grasso said it for years, i do like the domino's call. >> employee of the month is extraordinary considering that you worked there for five minutes. >> exactly >> nadine, papa john's or domino's >> you know, the opportunity for dough is getting a little stale, i think here the comps are so high. >> ooh >> when the virus first came out -- i know, bad pun -- when it first came out everybody was ordering pizza, ordering in, not knowing what to do it will be hard to accelerate from very difficult comps. same thing, they're having a little bit of trouble internationally in terms of keeping their sales rate up. when i think about the reopening plays, when you get out of your house, where will you go i think you'll go support your local restaurant i'm taking the opposite side here >> when the world is your oyster, are you still going to call domino's to bring you a pepperoni pie, bonawyn

>> umm, i will not be. but between the two, being that it's a would you rather, i prefer domino's, given that it's a tech play. i think papa john's still has a little bit makeover to do in terms of their perception. domino's has better margin and revenue growth albeit from a higher base. time for the final trade tim seymour. >> masco spun off less profitable businesses that are now in core building products. masco, stay in this one. >> nadine. >> paypal. they're really meeting customer demand now guy can get his ostrich boots just like the ceo with crypto >> i'm sure he'll be right on that one bonawyn. >> speaking of momentum in industrial names, shoutout to chris verrone, i like 3m, m, m,

m, up and to the right >> guy adami >> back in the day there was a great cowboy place on madison avenue called billy martin's where i bought boots, not ostrich, i still have them maybe i'll nft them tonight. fedex finally getting off the mat. >> good luck with 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 my job is to make friends and make you money call me 1-800-743-cnbc or tweet me @jimcramer. how can the market snap out of

th