an what did happens when the fiscal stimulus wear off. >> markets are except incomp skeptical. yeah, everyone's asking did we just see the peak of the good stuff getting bet er. >> we're out of time on "closing bell." "fast money" starts now. i mean, melissa lee and this is "fast money", tonight's trader lineup, karen finerman and steve will join us shortly. in chartmaster will break down what to watch, s&p now down every day this week. plus earnings alert on cisco, shares lower after-hours, the company's call now under way, and later a trade alert in the medals market, one hitting buy button on this key commodity id and we'll bring the name and trade. starting with crypto market it was gut check for bitcoin, ether, lite coin dogecoin

gettinged slammed down double digits, bitcoin quickly down now down 40% from april all-time high so just some froth coming out of this trade much more pain ahead james mcdonald break us off. >> we saw break down of bitcoin below $50,000 without a rebound studying the security, if we can call it a security -- this enthusiastic asset class, every time bitcoin came down they came back to buy it didn't see it may 16th was a sign of things to come, and 12th and 16th we saw a lack of buying support come in that's was a clue that the sentiment shifted. everyone knows when an asset swells to the level it did it has to stop at some point.

those are the clues, next level will be 27,000 level. >> conor was on a draw down of 55% is garden variety when it c comes to bitcoin if 55% down is garden variety we're in that spectrum, doesn't feel too good though. >> no, in fact, we probably only have one or two clients who don't care about that draw down and are true believers in the long haul in crypto versus almost all other clients who prefer us to trade it. just as we're talking about just now, we saw some break downs not just in bitcoin below $50,000 but also in related stocks, gray scale or mstr, you saw the break down, it actually broke our short-term trading range line, that's when we knew we had a trend. not a surprise to us this is happening. >> yeah, karen, you've been in

crypto for some time now, since 2017 or so. >> yeah. >> you've seen your fair share of dips what do you make of this one this time around, particularly in that, you know, this time around there's so many more institutions on board and you would have thought perhaps some of this voluatility would have been damp end with the presence of larger institutions, larger fund managers in the market. >> right i don't know if that's what filled in for support. i looked, bitcoin was $38,000 or so and then i don't know how many minutes later, didn't seem like a lot it was at $30,000 i don't know exactly what took it up from $30,000 to one point it broke $40,000 to the upside i don't know if that's institutions on the sideline i think that some institutions who don't have the exposure that they want may still want to be -- some may not they may look at volatility and say this is going to be too much for us

but to me having lived through so many of these down trends particularly the one in 2017, was it, it went up 400% to the next year fall by two-thirds they're gigantic numbers but i don't remember how wide the swings were. i know it was really fun on the way up and really not so fun on the way down but have to expect it to be an owner of bitcoin right? when i originally got in, i thought, literally my money could go to zero i didn't really understand it but i came to be a believer in the theory of digital currency >> uh-huh. >> and why investors would be interested in that and i don't think that's dramatically changed i don't think this china news was really particular news it was interesting to me to see, did coinbase at one point, i couldn't get on their website this morning >> they had trouble processing trades i saw on twitter a lot of comments saying oh, you should

use one and quarter billion you're raising through that convert to improve your infrastructure to process trades when things are hot and heavy on bitcoin. that's a fair point. asset class is an emerging market in terms of the ability to trade it. steve grasso is on the phone, we're having connection issues, but looking at bitcoin, as karen mentioned there's external factors this week, announcement bitcoin can't be accepted as digital currency as a form of payment and elon musk headlines implying tesla may or may not sell in today's tweet saying tesla has diamond hands when it comes to bitcoin in terms of the market, does the froth coming out of bitcoin indicate to you anything about the market direction >> yes, you know, obviously the first flush is when people sell a risk asset like bitcoin or alt

currencies it's a negative, the head wind for the market, many institutions have pointed to that as why the market is a little bit weak or every time we start to rally the market failed obviously we're still at or around all-time highs in the s&p. but when you look at bitcoin specifically, i see the level that james is talking about in the mid-20's that definitely could be a further weakness for bitcoin, but, i think $30,000 is probably a substantive floor in it. i think the way i'm looking at this is that there's two issues going on it's really ironic that china comes out against it but 75% of all the mining comes out of china. that's number one. number two, i think the main issue for bitcoin is elon musk right now, both upnd down. and the last he said was, as you

alluded to, he didn't intend to sell any of his bitcoin. and the last part of this was, once they get a little bit more environmentally friendly, he thinks that he will shift back to his priority sentiment -- to his prior sentiment on bitcoin. that to me sets up for you better buy the dip risk analogy, i think you're getting set up for risk in the next week or month and you have seen the lows in bitcoin and i think it trades back to 50 again. >> i guess back to the original question, this time to nadine, does that mean if you think bitcoin is going to dip and rip again, go higher, garden variety pull draw down and then bounce higher, does it say anything to you about the equity markets >> yes and no. it depends where it's coming from today some of the weakness is people couldn't trade the bottom so we heard from clients who

have their own personal accounts, not naming places, they couldn't see what they had, couldn't trade, there were some logistical issues here today as we know there's a lot of cash on the sideline instead of people buying the dipsnd broad equity markets there's been cash sitting on the sidelines what that can tell you is when they decide to come back in, you can see an extenned rally -- extended rally and volume supporting that type of rally. so i believe they're a little bit different financial in one way bit different. in one way i'd say this is obviously an asset that is newer and has people nervous when we see volatility spike like we did today. >> yeah. karen, in terms of being a holder of bitcoin, is this the dip that you buy or do you wait longer? >> i wait longer i'm really not trading around this >> right. >> i know as volume at aisle

volume at ill as atile as volatile as it is, play with the house's money if you're really good at it, i'm not good at it, 30,000, i'm not good at it, it's a distraction, it's not a big investment for me. i could waste all day trying to trade bitcoin and do a terrible job of it, which i could nearly guarantee, or i could glance at it and focus on other things. >> fair enough the next guest said the market was waiting for big pull back and bring in low bringing in chief strategy officer at coin shares, good to see you. >> you as well, melissa, excited to chop it up. shout out to karen, i want to fraud bitcoin with her. >> maybe you can in terms of what you saw today was this capitul capitul

>> absolutely. we're in the market of trading every day in primarily neutral strategy if we look at option skew trending bearish for the last two weeks, we saw a big run up, since the start of the year bitcoin started at 20, topping at 65, we are now hovering around 40. ether was a lagger but in the last few weeks has seen its trebling going from 1,000 to 4500 just a few days ago it's been really frothy. there was a lot of leblanc in t there was a lot of leverage in the market, some was taken out in april, still a lot of leverage, this pull back is healthy, normal in crypto. lastly, if we look at the macro story, institutional cash is at near-record highs at 3 trillion was at 2.3 record high may last year flight we're seeing skiddish

right now we're seeing skiddish in general we saw it in $50 million in net outflow from bitcoin -- last week. it is tied to macro. tax day selling. people get anxious that's what we have here. >> right it's funny, couple years ago there was a case made around tax season you get the refund and it goes into bitcoin. that's bullish force in the market regardless of that, you're talking about allocators in this notion of institutions being in bitcoin like they haven't ever been before are you surprised that the volatility in bitcoin has not been damp end at all that we're still seeing massive draw downs and swings even though the presence of institutions is much greater than any other point of time in bitcoin's history >> great question, melissa it's important to specify how people are accessing markets over the last few weeks a lot of

the volatility we've seen is not come from institutions but from market trader and retail retail does move this market a lot of the buying activity over the last week is actually coming from newer entrance to the market and venue with where it's happening as i alluded to we seen $50 million in outflow in bitcoin etb's in the last week may be some institutional capital but we are see morgue on retail platform, finance is the primary platform, record level in flow and out flow on that platform coinbase has seen consistent outflows and this market is open 24/7, 365, serving tens of millions looking to trade these outages further exacerbate the liquidity and weekends as

well because trading firms don't work weekends in those cases. a lot of is heavily retail-driven. the institutions by and large that we work with and talk to are not making three or five day decisions, they're spending time, they're doing the research, they're allocating, looking to allocate long-term. >> right karen you have a question? >> yeah. sorry. yes. how much of the bitcoin story was the idea of bitcoin being use the for purchases? i know tesla said they would take it, that started a fire there. given this kind of volatility, i think that can't be part of the story. how much do you think that was baked in >> look, nobody really is using bitcoin primarily for purchasing today. one tesla total was bought using bitcoin so that story was really a non-story. if you notice, right, elon musk kept the bitcoin on his balance sheet. this is really about getting the

haters off his back around the recent esg concerns that have been articulated as we look at behavior with bitcoin today a lot of the activity we see is bitcoin's really being used as a savings technology we do see people in certain climates, particularly in equ economies where their native currency is under inflation prsh potentially using bitcoin for transacting. but stable coins like tether and etc with over $100 million in circulation so for payment medium we see lot more utilization of stable coins opposed to bitcoin and ethiethiopia opposed to bitcoin and ether which they will hold for investment. >> so good to see you. >> james mcdonald, talking about coinbase, this unforeseen volatility could be an upside to

the quarter. >> for those approaching 50 we've seen a few market cycles and we remember a few big market pull backs i think we're all waiting for this implosion in the crypto space. this is the first time i've seen in my career big institutions acting on fomo, mcpherson of missin fear of missing out. we saw fiduciary evaluate and me we saw fidelity, and merrill do it we seen those with big fortunes jumping on the bandwagon and that with the fed's stimulus check and money in hand and complacency in the market drove it up so high, it was bound to happen we seen concepts that were literally non-producing, non-usable securities and/or asset classes swelling in value. so many made money this to happen and i think it will continue longer we do have a newer established

investor base in new platforms whether crypto or the other apps that allow people to invest. i think it will continue and bitcoin will come down to the mid-20's level. >> all right we have market flash in the health care world. meg with the headlines. >> hey, melissa, it's two weeks before the conference starts hundreds of data on drugs, maker story allogene stock up after hours on data on lymphoma treatment, looking positive, looking at the durability of that treatment stock up a prapproaching 12% after-hours we'll keep asslooki at the data coming out and let you know. >> thanks, meg comb through those steve grasso what's all right trade in biotech health care

>> i think it's funny that soon as meg comes on, i was waiting to hear something covid-related. so i think the fact that we're starting to hear about other market-moving ideas or headlines in the biotech space is probably healthy for the overall sector itself. so i would say that, as the economy opens back up, people are starting to get treated for different ailments and they're getting back into hospitals and starting to use different shrugs, i would say the ivv is the way to play it for me and obviously if you look at the chart it's choppy at best. year-to-date it's basically flat to red so i think this is one you could see tailwind when people start to think of other things beside covid. >> coming up, cisco dropping, call under way, details are next plus a red day on wall street. have no fear, the chartmaster is

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we have earnings alert on cisco shares sinking after hours, josh has the break down. >> heading into this report the stock rallied 15% in the past three months, given some of that back here. results beats on the bottom and top. q4 guidance 81 to 83 street at 85 revenue growing 6%, expectation, 5.5% also big focus on the call margin guidance, a lot of questions, calling for 64 to 65% the street was at 66 i caught up with mkm take on the print he says top line beat race, that guidance weak relative to expectations on eps and gross margins. ceo chuck robins on the call, very good quarter said cisco is driven by quarter of macro environment and strong products and the future will rely on cisco tech and demand and momentum he says is strong and

the challenge is in supply chain issues, including increasing cost for components, freight cost higher as well, cisco management are working through the challenges, partnering with suppliers but issues likely to stay until the end of the calendar year, dynamic situation in a head wind melissa, back to you. >> by the way catch cisco ceo chuck robbins on "mad money" top of the hour. let's trade cisco, this old-guard technology sector had been doing quite well when the big cap tech zstocks were not, where do you stand on cisco. >> kind of where we expected, 2.2 down side versus into the quarter. i hoped for weakness i what trade the weakness, they're a great team and tend to be conservative with their guidance my colleague on the call i will

catch up with him. it's about the supply chain sounds like will last a few quarters, some of these issues, order trends, color on that will be important s implied volatility premium going into the quarter at 56 mer percent. i like the odds people are paying up for protection so everyone was nervous going into the quarter but tends to mean if you back management team with solid execution you will do just fine. >> once upon a time, james, cisco was the bell weather when it came to the sector, and tech spending in the corporate world, is the commentary about supply chain issues and cost increasing cannot be extrapolated to other companies? >> possibly. but sticking with cisco first, i think this is a name, like nadine said, is going to attract some attention, flight to quality to your point, an old-arc company with stat 3%

dividend supply issues will continue throughout the rest of the year. people understand it's good to hold. nor the rest of blab for th for the rest of the sector, those names continue up. i like cisco's numbers they knew they would miss but they have a good reason. this is not a company-specific issue, more of a macro issue. >> yeah. to that point, karen, are you worried about some other tech holdings? >> i look at something like this and i think that supply chain issues, this is something i would consider transitory people ask drink ing now if -- playing the game it's something i look past some of the ones i have are more software than hardware, which might be a difference in the supply chain i look through that. same for gm. right. they have supply chain issues. i look through that.

it wouldn't make me sell my gm. >> all right we're just getting started on "fast money. here's what's coming up next. >> announcer: a rough day on wall street has investors running for safety but chartmaster has you covered. carter worth joins next to make sense of it all. plus we've got a fast pitch coming your way, this one has the potential to go sky-high 'vgothnd a lot more when "fast money" returns. so we get to work. we mend, fighting for every person in every neighborhood; we, the coming of the common good. so dare to care, to be hope-sided. we're never divided, when we live to give, we always live united. (vo) nobody dreams in conventional thinking. it didn't get us to the moon. it doesn't ring the bell on wall street. or disrupt the status quo.

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earn points now to use on travel later. one of the many things you could expect when you're with amex. welcome back to "fast money. stocks under pressure for the third straight day the dow, s&p and nasdaq all closing lower despite a late-day rally into the close we heard from the fed, releasing minutes from the last minutes, some signaling a willingness to

scale back the fed's massive buy back program, quote/unquote, some point in effect would mean tapering, karen, how do you take this impact on the markets. >> i would say it's somewhat over blown it's ridiculous if the economy heats up and gdp grew so quickly that no one would consider talking about it so the idea some members would consider talking about some date in the future to do it, okay. that shouldn't be news it would be ridiculous to me if they didn't. so i think the market kind of freaked out for a minute and then, i don't know, hopefully realized that this -- it -- it's nonsensical, to me. who knows? >> steve grasso, your take >> well, i'm looking at the chart of the ten-year yield and i know we keep circling back to this but we enter -- in my mind, the reason we haven't seen

inflation other than in lumber and commodity prices, i know that's more than enough sign of inflation but the ten-year yield still can't take out that one spot seven four level. and to me that's ludicrous that means we enter into this environment in a deflationary world. that's the bigger fright or scare, if you will so i think the fed knows this. the market is getting to know this and unfortunately there is no sign of inflation on the way that the fed measures it i think that's the more frightening angle to this dynamic for the marketplace. >> i mean, if the ten-year yield cannot take out 1.74 which was the high in march, even on the back of very hot inflation numbers last week, james, i would think that's actually very good news for the markets, knowing that we're sort of range-bound and not going to take out that high doesn't look like it, at least. >> right

the ten-year treasury became a story. we were looking for things to understand what was going to tip sentiment in this market the concept that the fed came out, i believe in october of last year, and said we're not doing anything for the next 36 months there's nothing on record like that, not in the great depression or in 73, 87, 88, there's never been a statement like that before i think the market took it and ran with it now we're hyper sensitive anything that indicates the normalizition of the ten-year treasury. we are seven trading sessions away from all-time high on the s&p 500. tech came down -- we're looking for ways to be safe as we go back to normal with mask restrictions coming off, we'll see what happens in the economy and will be more comment from the fed about going back to normal from monetary

policy from inflation standpoint, watching unemployment or looking at the tone of going back to normal. >> bottom line, sounds like buckle your seatbelt let's hear from carter worth joining us now what are looking at? skbr well, so we have a little bit of a dip a decline. a correction a pullback a drawdown forget what you call it, nomanclature doesn't matter. let's try to put it in the context of the chart therefore, here's the first chart. this starts just before the pandemic hit we had that epic plunge and then this recovery over the past 12, 15 months. and it's right on the trend line in effect since the pandemic low. you can see it there in that chart. now look at the second chart exact same time frame. what we're looking at here is all of the continues corrections relaxed since the march low. there have been six in total

this is the 7th. if you look at the six, some are eight, some are nine percent, some are five. if you look at all of those that are five percent or more they're average decline is 7.8%. third of four charts this is chart one and two together so we have a sell off right now, down 4.2%. not as much as the average of 7.8 but it's right to the trend line so do we hold or do we break we're thinking we break. now where might we go? final s&p chart this is the same chart again, exact same time frame but with the smoothing mechanism, the 150-day moving average, so were we to go down to the 150 day, which essentially is rising quickly, right, it's around 38.25 but moving quickly that's the nature of moving average, we'd come down to 38.50. interestingly that would be

exactly an 8%decline which would put it along the average of all the of the other declines since the pandemic low >> 38.50 but holding the up trend, correct carter? >> well we've broken the trend line, in the cusp of breaking it we touched it today on the low, i think we break it but we get to the 150-day. >> okay. i want to ask you about the story of day, of course, bitcoin. carter, you told us days ago the draw down is garden variety, are we still in the garden variety-spectrum at this point >> well, that's -- the nature of data of course is that drawdowns are different depending on the security in question this is wild stuff what we do know, here to, in this instrument, bitcoin, you can look at the chart that's only a one-year chart, before we examine it we know this has had a dozen or so sell-offs of greater than 30% since 20 11 and

the average sell off is 56%. some of it 90% others 30 or 40. and guess what we dropped exactly 55% here so the question is this, what from here, it's always that, we got to make our money each day make our bests and the issue now as i see it, you can see it on the chart on the screen is that once you have a drop such as today, 30%, yes. you leave people trapped above that's just the nature of what supply is. it it's one thing to be down 4% or 2 or 12 once you're down 30 it happens quickly you become an interested seller. get me out let me have my money back. while we bounce nicely off the low of 30,000 and change up to 39, any progress up towards 40 will induce in principle those who committed capital for the last three months from mid-march to mid-may will induce them to take their money out it's a very difficult moment to

go higher. overhead supply looms. >> all right carter, thank you. carter worth, cornerstone macro. nadine, i'm not sure what else you did today but what really stood out was you buying copper. >> right one of the things we think of -- and i've given it for some of my final trades -- is reflationary trades, whether energy, materials around the world, so for us, we saw, amongst other things, copper trading off earlier in the morning and we got to pick up some good buys this morning when everyone seemed to be puking also it seemed like i think there was a hedge fund breaking down so some of the color we had gotten led us to believe with that and implied volatility premium, so people paying for protection, super high across the board and in our favorite reflation airy places, energy. materials, financials, including copper

was a time to he enter not get scared and get out as some do. >> karen your thought on the action today. >> interesting to me, it was sort of led by bitcoin, it seemed, when the market opened and i don't know if was once bitcoin stabilized, couple things, the maga complex started to come back, i'm not sure why but it was a ballast for the rest of the market names like google and facebook today up, and others only down slightly, and then the semidconductor space turned around so i don't know. i feel like the market just got kind of whip sawed net-net not much happened except bitcoin. >> yeah. coming up, target hits the bull's eye, retailer on the back of strange earnings we'll dart into that trade and fast pitch up next, one trying

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welcome back to "fast money", airlines rebounding

strongly since the pandemic, our next guest with her eye on one name in the space ready to fly even higher not just since the reopening jennifer taking the mound for a fast pitch, so jennifer, what's the name >> thanks, melissa we're going to talk about spirit airlines i think it has potential in the short-term to rally 50% as we get a handle on how travel shakes out in the second half of the year we know air lions is air dine airlines are a big part of the story. i've been bullish for a while and several factors i don't feel are currently priced into the stock. first of all domestic leisure budget travel will take a overall portion of the travel pie. millenials will spend on experiences instead of physical things was put on hold because of the pandemic but will return more than before with stimulus

money, flexible work and new found sense of morality all playing a part these are long-term trend that's will play out over the next months to years. so what's the near-term catalyst all bookings are guiding back to 2018 levels we think bookings in these times with so much uncertainty have been scaling last-minute. it will come clear in the peak travel season if forward bookings to the upside. >> there's an element of yolo to this pitch, jennifer. >> yeah, there is. i hear it from all of my friends. i hear it from people that i talk to that there is a huge pent up of demand everywhere >> okay. nadine has a question for you. >> jennifer, southwest came out yesterday and said june fares should be at 2019 level. can we read through to spirit with those comments? or what are you looking at to

say, yes, the data's coming my way >> yeah, certainly we had delta coming out with, like, aggressive bookings information, too i think to some extent this is not necessarily picking individual names, it's the whole sector kind of moves at once so a lot of airlines, like -- like allegiant are going to have a lot of the same factors >> are you concerned, jennifer that corporate travel going to pick up and you're not going to see the tailwind from that in a spirit >> so one of our -- yeah, so -- actually the bear case for spirit among most of the bank analysts is that business travel will be so depressed forever that it will cut into the margins of leisure travelas the legacy c care yers -- carriers try to pivot

towards their market it's interesting you can see it both ways. i believe business travel will change in the future from kind of the traditional business-class fare to the fact that a lot of my portfolio companies are smaller businesses and they use the advent of remote work to both allow employees to work flexibly but also to hire the best people they can hire regardless of location, which is a huge advantage to a start up so we're now seeing people who are working remote full time but are returning to the office for a week at a time every couple months so, yes, i think that business travel and leisure travel will pick up and leisure travel will be a larger piece of the pie. >> all right no more questions, it's now time to vote. so we ask our panel are you buying jennifer's pitch on spirit steve grasso, weigh in >> so spirit was a name of mine for a long time. i a no longer in the name.

i agree with the pitch but going to have to say sell. the caveat, what you touched on, corporate travel, though 12% across the board for airlines, accounts for 75% of the revenues, people are itching to get back to the business travel. i'm starting to see trader conferences light up again so i would play it with a delta. i like everything she said about spirit but i'm no longer in the name and have to vote no >> all right karen what do you say? >> well, i'm -- she lost me at aero systems which isn't her fault. it was a good pitch. i'm just sort of lukewarm on the space generally given the bounce back, i know the stock is still down far from where it was in '18. but, i'm not converted >> all right james, what do you say >> you got spirit, yes you do. but not me >> oh. ha ha. >> i like jennifer, and i like

the space and i like her analysis, jennifer, have you been on a spirit plane it reminds me of the bus we used to take in boys club, you have to pay extra for bags, there's no wifi, no power cords. we want a good time when we go back to the travel space i was in lax last night never seen it more busier in the last year and half. this is i name that doesn't have quality experience so i will pass but i like jennifer. >> so three passes so far. nadine what do you say. >> jennifer i'm on board i madea a plane, i would trade it you got short interest of 9% implied volatility premium at 25%. still in bullish formation i think a lot of negative news is already in the stock though it has rebounded some. it's going to be about execution. that's something i can actually bank on watching ebit margins go up i will trade it with you. >> traders have spoken

jennifer congratulations, one out of four ain't bad. thanks for joining us. more importantly are you out there buying jennifer's fast pitch vote on our twitter poll and we'll reveal results later on the show. up next, we're talking target, retailer surging more than 6% today on the back of strong earnings we're hitting that trade when "fast money" returns (♪ ♪) a fashion first, (♪ ♪) a science first, (♪ ♪) or a first for us all (♪ ♪) whatever you hope to achieve for your business, cloud first helps you get to value...first (♪ ♪) let there be change accenture

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welcome back to "fast money. talk about a bulls eye, target surging more than 6% to a new all-time high after reporting earnings this morning, retail sales rising 23% in the first quarter thanks to exclusive brands and curb-side pick up karen, you bought target yesterday, didn't you. >> yes, i did. i got lucky in the market sell off. so it was down though walmart was up and ended the day up, walmart was the road map, wall about mart mix improved than target was really going to improve. it blew away, it was just extraordinary. so gross margins, guy loves to talk about it 30.9 versus 26 the operating margin though was beyond stellar at 9.8%

extraordinary. it's not crazy but i did sell half of what i bought yesterday, kept the half to make it a long-term position i don't know, outstanding execution. can't say enough about what a fantastic job they've done still, it's not crazy expensive but hard to buy anything up $12.50. >> karen, i guess i need you on speed dial call me and let me know when you do those trades. i'm just kidding but we're seeing -- you're right, we're seeing a implied volatility premium around zero, still bullish, but about five to one down side with our trading ranges, so we agree with you today's the day you don't buy all this amazing news but is something you really want to trade on a pull back. >> good call. >> definitely a good call. coming up one semi stock earnings tomorrow, options bed a power trade on this name and also jennifer's pitch on

spirit, do you think it is a buy, head to our twitter poll to cast your vote "fast money" back after this together with a dedicated advisor, you'll make a plan that can adjust as your life changes, with access to tax-smart investing strategies that help you keep more of what you earn. and with brokerage accounts, you see what you'll pay before you trade. personalized advice. unmatched value. at fidelity, you can have both. ♪ more than this ♪ at fidelity, you can have both. ♪♪ (vo) the rule in business used to be, "location, location, location." now it's, "network, network, network." so you need a network that's built right. verizon business unlimited starts with america's most reliable network. then we add the speed of verizon 5g. we provide security that's made for business and offer plans as low as $30 per line. more businesses choose verizon than any other network.

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the stopple avoided a sell off and options traders are betting on more gains ahead. mike khouw, what did you see >> in options market we're seeing implied move 4.8% slightly higher than 4.2% in last eight quarters. calls outpace puts by 1.6 to 1 slightly under the 20-day average of 20 to 1 the options with most open activity were 127 called expired on friday, trading $1.16 buyers of those are betting the stock will rally above the 127 strike price by the dollar they paid to put the stock above 128 by week's end and considering how much the stock moved today and four of the last seven trading days options are cheap going into this one. >> grasso, you like amat >> not particularly. but technically the set up lines up exactly where mike said the 50-day moving average is slightly above 128

it stopped on a dime recently at the 100-day which is 1.16. stock up 44% and had a recent pull back from recent high of 18% so this was not considered a very expensive tech name i think if you're in this one you stay in this one and look in the area 128, 130, next couple days >> thanks for that, mike khouw more options action on friday, 5:30 eastern up next, final chance to vote for jennifer's fast pitch on spirit airlines, is a buy. only few minutes left to vote, so vote! results an final trades after this 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.

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welcome back to "fast money. it is time to find out if you at home were buying jennifer fast pitch on spirit airlines and it looks like this one didn't get off the ground about 63% of voters were not buying it. so agreeing with three-quarters of our panel but our thanks for jennifer for doing her best to convince america time now for the final trade, let's go around the horn, steve grasso.

>> capri holdings, this was a fast pitch for me in september, trading at $18 i know i'm getting greedy at 55 they report earnings next week i think they're going to knock the cover off the ball with earnings looking for the stock to trade as i said in my fast pitch closer to $100 so almost a double from current prices. >> i remember that one, for sure na nadine what do you say >> coming back to british pet role yum, bp when energy was over bought we trended it now it's looking attractive this is 7 to 1 upside to downside implied volatility premium 15% want great this one, bp. >> james mcdonald. >> forget target, buy low, sell high walmart is my pick four at jpmorgan chase & co. upgrading the price targets. >> karen finerman. >> yes, i like tj maxx people

are disappointed it wasn't better but i think will be better next quarter, store ks xing and cost coming down, t jr on sale. >> 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, just trying to make you money. my job is not just to entertain but educate and teach you. call me at 1-800-743-cnbc or tweet me @jimcramer. be careful what you don't wish for. broad thesis or speculative nightmare. i'