or there's urgent buying here. i think growth-type to120ks -- stocks getting reprieve, makes sense with situcyclicals not giving a lot. >> disaster girl n ft bought for $500,000, wonder how much "charlie bit my finger" will go for. >> more. >> that does it for us on "closing bell. "fast money" begins now. i'm melissa lee this is "fast money. tonight's trader lineup guy adami, tim seymour, dan nathan and jeff will join us shortly. tonight on fast, big down grade for motor on the skids, one dollar price target on this stock, time to unplug from this ev-name and kohl's despite big beat and bullish outlook, so what happened. and to the moon, sent virgin gal attic rallying in today's trade.

big tech turn around, snapping three-day losing streak. nasdaq erasing losses for the week big leading the way. look at other winners, pandemic winners gaining ground also zoom, peloton, shop tie, cloudera, a day after the fed hinted it's getting ready to start thinking of ending it's bond-buying program, if the opening is real, mask mandates are easy and one of the tech and high valuation names still winning. what's it say about the mood of this market? guy adami, i start with you. >> because they got obliterated. hi, mel. you look at peloton, we mentioned couple weeks ago traded down to 80, i thought the metrics were really good and had something to trade against here we are at 100 these things were so lambasted

it is worth a look names to me n vidia $700 price target sold off enough into earnings next week it's absolutely worth a look. the other is netflix this stock has gone nowhere since last july trading in 475 550 range, once again down to 480, seemingly held. i think those two names you can absolutely trade again to fit the narrative you started the show with, melissa. >> dan, have some of the names got to the point where they're considered valued or more reasonable you've been beating the drum when it comes to the software name and cloud stocks that got clobbered but even at these levels are they worth a buy in your view? >> well, i think they're worth a buy when you start to think about what secular growth looks like on the other side of the pandemic when things are a little bit more normalized many of the stocks are hammered

down 40 to 50% or so we talked about it earlier in the week, if the bull cases how much they are down from the highs you got to think of things a little differently what i guess is most important on is this, we seen the rotation while those stocks under perform into more cyclical name exposed to gdp expansion, it's going to decelerate on the back half of the year i've been saying for couple weeks now, i think we'll look back on 2021 and say this was the transitory and rtantrum with the fed back and forth, what they're going to do, and towards the end of the summer we'll be faced with the fact they will be tapering and they will get inflation under control and all of this is was a little tantrum because we'll get back to the pre-pandemic levels of inflation. that's what i think with it eh,

we're going to be in that period and you'll go back to the secular growth names with recurring revenue -- >> wow so dan nathan it sounds is telling us that we are already trading past -- we're going out to next year looking back at the tough comps that we're going to face and trading past the race of the second half guidance giving us, tim, are we at the time we look forward and say the best times are here and we're going to trade the market that's two or three or four quarters from now >> right and do we want to look forward to looking forward look, i'm of the view the minute we start saying we're back to normal, in addition to leaving the fed dine i'-- dine aimics a- dynamics, to what we look at multiples, and approach it then. it's that time dan used multiples, he's right

yesterday taper tantrum was all over the market, what you talked about, coming out of those fed minutes, very, very well-crafted speech-writing, word by word, that threaded -- i hate that term -- that got us to a place today that i think markets were able to pick up on those trades that benefit the most when rates do nothing or stay closer to zero and, look, a half point move on the ten-year today meant that apple now further put a base under that 200 day that i talked about last week that i was very worried about that hadn't pushed through since may 2019 guess what, kind of feels like a distant memory you have nasdaq, triple q's back above the hundred day. so you have put more technical support, you got a little bit more clarity but what we've all said is get out of the way when we actually believe the fed has to reduce. again, it's not about changing their policy aggressive. >> right. >> it's reducing the buying that i don't want to be around.

>> so this is classic, sell the news, jeff mills we all knew it was coming and now seems it will be closer rather than further away, and here we are. but does that mean some of the reopening plays are open does it mean the materials trade is done? does it mean energy is done? all of the names that benefit from a reopening economy, an economy that is getting hot, do we abandon those >> i think we're a little bit early to completely abandon it today felt a little bit like just sell everything that's associated with the reopening. it normalized throughout the day. but at one point you had utilities and staples outperforming with the likes of zoom and spotify, it really was everything else work,, a little bit of a mean reversion trade and reopening value, the cyclicals, that's what is down dan alluded to peak growth, peak everything, i agree with that to an extent but i think we'll be

at peak for a long time. that's the key pmi i think will remain elevated usually you will see in that environment strong earnings growth you will see companies levered for cyclicalses doing well, you have level benign applications we seen the jump rally and now it's focused on values and fundamentals, even in growth, i've been saying that for a while. i don't think i will change my tune until lei like p m i are going to roll over, i think you have time there, the p m i's are highly correlated with the changes in interest rate with the lag, that will forecast rolling over some time in q2 of 2022 i think you still have room because housing is strong. consumer sentiment has room to catch up i think we see the peak data for a while and elongates the cyclicals revalue trade for another quarter or so. >> how long do you stay with

cyclicals, guy >> i think you stick with them for a while, in terms of banks for sure, until they get at levels where they don't make sense, in terms of not making sense, we mention in terms of tangible book, when wells fargo trades 1.5 times tangible book you pull the rip cord, that's what warren buffett did and karen and tim did similar. i want to point to our audience, i will point something out you you have to answer honestly. >> yes. >> one thing that drives you nuts is the improper use of further and farther and you caught yourself 90 seconds ago. >> i did i was even shamed that it came out of my mouth as farther at first. i don't know what was going on. >> you went right through it, 99% of the people out there wouldn't have picked up on it, but i'm the one percent that caught it, mel. >> farther, meaning distance further meaning something that is intangible and immeasurable anyway, let's move on.

>> wow. >> even with today's rally wall street biggest bull says the market is still on sale, now head of quantitative research at credit suisse, great to have you with us. >> good to see you. >> what happens when the fed for arg argument-sake at jackson hole starts to say we're going to start thinking about or actually curtail buying bonds, what happens to this market are you still bullish? >> yes i think -- i think we are. i mean, we're seeing an enormous amount of stimulus and at the end of the day this story is all about exploding earnings you know, consumers have an enormous balances in their checking accounts, whether they got money from the government, whether they just didn't have the ability to spend, whether their portfolios were up in value, and that is going to be unleashed as we're all

vaccinated and get into the summer we're all told we can go back to work so that's a huge positive. the fiscal spending is not over and we are meaningful under estimating the earnings with record-level type beats on earnings announcements so do i want to see the fed renormalize? yeah, i actually would like to see things kind of get back to something that's a bit more normal because what we've seen is just, you know, unbelievable levels of stimulus that ultimately ends badly >> in terms of the stimulus, though, you mentioned the sort of, you know, the good effects of stimulus immediately at least within the economy, when it comes to fiscal spending, that will -- we have increase fiscal spending, that will come with tax increases whether on the corporate level or individual level. when it comes to some of the individual stimulus programs 21 states opted to end federal unemployment benefits early how

does that factor into your view of the markets. >> yeah, it's interesting, if you look at just the corporate tax that we're talking about, which, let's say biden gets exactly what he's asking for, which is a move to 28% on the corporate tax. that would shave off 6% off of profits. let's just assume that's basically what you would see as it hits the stocks however, companies are beating by 22% this past quarter and so we for example increased our earnings estimates for next year from basically $210 of profits on the s&p to 225 and then when we took it down for higher taxes, we took it down to $215 so we actually increased our earnings estimates including this tax because the numbers are coming in so strong. so in general, i would be, you know, somewhat concerned about the hit from taxes

but it's just being overwhelmed by how strong the economy is let's call it what it is, we have an over heating economy that ultimately is going to end badly. and so the fact that the fed may take their foot off the gas a tiny bit should not be a concern to anyone. >> hey, jonathan, jeff mills here, i had a question about market leadership. obviously today we saw this big reversal based on what had been working, what was working in 2021, lookin 2020, with looking forward, whether talking about the fed tapering or risk on policy side where do you see the market developing in terms of leadership, where do you think you want to be >> let me start by saying i'm a growth guy, i think over the long run growth stocks are going to win, i think over the long run the u.s. is the best market in the world because we're the innovation capital of the world. for the last ten years i've been overweight growth almost the

entire time. this is the first time in a long time that i basically said, run this value thing really hard i think that the cyclical trade, guy may have mentioned this before, i think the cyclical trade has about between two and five quarters more to go i think banks look probably more attractive than any other group. i think energy and materials and industrials, and basically old-economy stocks, they do really well in an over heated economy, which is what we're seeing this doesn't last forever, will be back on here talking growth but not yet. >> when you say the market is on sale, what metric are you using and even if you say things will run two to five quarters, if things run really fast, really hot you might say pull the rip cord so what sort of metrics are you looking at >> i'm looking at pe multiples. >> okay. >> melissa, here's a mistake that people make, if the market is up 30% people say wow the

market must be expensive but if at the same time the earnings were up 40% the pe multiple fell. in august we had a pe multiple in the market of about 23.25 and today a pe multiple that's around 20.5. maybe today it's closer to 21. so the market is about two or two and half multiple points cheaper since last august, even though the markets run like crazy. >> yeah. >> and so, the issue is, the pe, that pe-formula is having a hard time keeping up with how good the heat is. when does the earnings -- when does the valuation become an issue? it's when the earnings start to slow down, then that's a whole different story >> all right, jonathan, great to have you, thank you. >> pleasure. >> jonathan golob. that's a good point in terms of the pe of the s&p 500. we're about one or two turns difference from last august. yet this time around we have much more visibility, balance

sheets look a lot better and we have a pipeline of orders in a lot of different industries, jeff mills >> yeah, no question about it. you can do back of the napkin math and you look out to 2022 and earnings estimates continue to go higher, somewhere around 209 today. slap a 22 multiple on that which is around where we've been trading and there you go, request you magically get to that $4600 price target. i don't think it's that ridiculous given the back drop we've had. we've had strong momentum. in the near-term that's probably a negative looking at percentage of stocks trading above the 50 day it's deteriorating. you look at risk appetite whether discretionary -- data, high data versus low data. -- it would be healthy and normal over the long term the momentum we've experienced is a good thing. >> one extrapolation, dan, i will ask you to make it, if we

have bid for riskier assets like high-valuation stocks should it be good news for crypto? >> um, yeah. i mean, listen -- >> spacs, you name it, all those things. >> actually, you know what, i'm going to answer differently, i have no idea. >> okay. >> i will tell you if there's a bid for those stocks than the market is getting to golob's $4600 number because we know $4 trillion of amazon and apple have been consolidating now since september and haven't confirmed new highs in the s&p 500. the s&p 500 has massively underperformed the nasdaq. nasdaq becomes leadership again in some of the biggest names and then you have all of the recent ipo's and big secular growth names as they start to participate together down 40 to 50% you're going to break out and have new highs and that's going to be a great thing. as far as valuation is concerned, i will say this, on the other side of this pandemic, as we enter 2022, you tell me

what is the multiple that the s&p 500 should trade at if we have inflation between 2 and 3%. if we have the ten-year at 2 to 2.25, 2.5% where guy thinks it could be going gdp, again, between 2 and 3% i think this is a transitory intranet rum and i think we -- tantrum, and i think we get back to machines taking our job or negative effects of globalization and potentially weighing ubi again that's where we will be next year looking back >> good old days after-hours alert on home depot announcing $20 million share buy back $20 billion share buyback after the close. surprising these were separated but tim seymour not much after-hours ction. >> no we know how cash-flow positive their business. the gross margin in the last

quarter as amazing may comps up 30% month to date, year-over-year, these are extraordinary numbers. that's really what the market didn't have enough excitement around it's a pe-multiple thing ultimately for home depot in earnings quality dynamic raising a buyback great news it is a healthy company investors are looking for a pull back people related to the home retailing stocks i don't know should be looking at the same met emricks but i think -- metrics but i think it has something to do with massive runs for lowe's and home depot. >> chip space call details next plus ford unveils new electric ttg e datruck, buckle up, we're puinthpel to the metal on that trade when "fast money" rolls on

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plus, for a limited time, ask how to get a $500 prepaid card when you upgrade. call today. . welcome back to "fast money. we have earnings alert on app stock. let's get the details, d >> this is the largest semiconductors equipment maker by revenue so set to benefit from chip shortage and increase

manufacturing, as you said, heading into this report rallied 50% in 2020 making it the best-performing chip stock year-to-date it's bouncing between gains and losses after-hours down 1.5% at the moment, following a strong print but given the back drop, the street was expecting strong results. on the call gary diggerson exercise the strategic importance of the supply chain, getting renewed at the federal level and adds he thinks we're in the early innings to drive semidconductor equipment higher and for the first time customers are scheduling multiple years in the future calling it d ram the next fastest growing market and sees nan growing at modest rate. and looking to return more capital to shareholders, announced $7.5 billion stock

buyback plan with 9% dividend increase back over to you >> deidre bosa thank you. why do you think the stock trade traded lower. >> i don't know why -- fshlt your talking about aps growth -- 19s times forward innings is not 19 times forward earnings is not expensive with that growth and with the guide, given this quarter it should be trading towards recent highs i would buy here >> a beat, a raise -- decade cycle -- you think of the chip fans across the country intel for one, they need the equipment being manufacturers by names like applied materials

and -- research, et cetera dan, where do you stand on this trade? >> it's interesting, you talk about the secular trend. and then you talk about chip makers don't want to get burned again, not having the ability to get the inventinventory. i look at it trading well below it's multiple i hear the term recurring revenue. this is a trend in which equipment is being bought and speed at which some of the chips are changing so to me should trade at least at market multiple so there's no reason this stock shouldn't be back towards those recent highs. >> all right, we're just getting started on "fast money." here's what's coming up next. >> it's electric, ford charging higher has its new electric truck has investors moving in. buckle up on this trade. plus say scheez snap gets 500 million monthly users. that has the stock sushlrging.

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welcome back to "fast money. ford charging higher as the automaker unveiled electric vehicle in america debuting battery-powered f-150 pick up truck called lightning hear's early on "squawk box." >> we have three electric vehicles that ford's going to be out in the next ten months one sold out for several months. we have 70% of customers that are new. we have new e-transit coming at the end of the year. america and the globe's most popular van. we have the lightning coming next spring. in the next 10 months we'll have

these three high-volume vehicles >> that leads us to the call of the day, lordstown motors plunging, this stock by wolfe to under perform giving $1 price target pointing to their electric pick up saying these are prices that lordstown simply cannot match. jeff mills, what do you think? >> well, looking the competition is here, whether it's tesla or some of these newer ev companies it's going to be difficult in some cases to compete. i don't necessarily disagree with the call. you're talking about lordstown, i mean, all sorts of issues there, ongoing sec investigations question about the product, that's speculative, it always was, with a stock like that you are betting to lose with ford it's trading at the top end of its range.

maybe some of the announcement relative to ev afforded a higher multiple time will tell i like what they're doing with the mustang and f-150. maybe for a time, the easy money has been made. maybe other ways to play this if f-150 lightning is successful and can accelerate manufacturing from other manufacturers other devices will benefit too there's a number of ways to play this whether directly the automakers or some of the infrastructure. >> i think what's particularly interesting aboutthis wolfe call, let's say every single issue jeff mentioned was resolved and you wave a magic wand and can produce lordstown ev pick up truck, the price point is $52,000, that's still higher than the higher-priced ford ev-pick up truck. that's the issue, guy, even with the vehicle they say they can manufacturer, if they can manufacturer it, it's still not

going to be able to compete with ford plus by the way ford has a brand name known for reliability, et cetera et cetera >> right great point. and you know what, there's no cache in telling your buddy i got that great lordstown truck, of name recognition matters. if you want to down grade stock say 7.5 price target, step down a dollar they went double dog dare from 18 to a buck i admire the tamarit yrks behind that you understand what i'm saying i will say this about ford, tim will agree i'm sure, they will earn dollar 70ish you will have a $17 stock, i think that's where it is headed. >> the analyst believes liquidation to either a new entrance or to fox con, or magna

might be next option, talk about double dog, triple dog dare, if that exists, guy, in terms of where this analyst is going with this question is, dan, tesla is going to have a pick-up truck too. do they have enough cache to compete with all these other vehicles >> i do think it's interesting that we're talking about pick-up trucks that won't be on the road for a very long time at this point. we heard ceo farley mention that the mustang machi i have one he said 70% are new buyers. i haven't bought an american car in 20 years. i think it's a really compelling argument to be made and what you talk about the ability to do it at scale, i find it very hard. you think of the difficulty tesla did with the mass market model 3 where the average price was well-over $40,000, well above the average car price in america, $35,000

i can't speak to lordstown i agree with guy, i think there's really interesting things going on at ford. >> lordstown just a handful of ev specs of short sellers,er check this out, nikola, lords down and quantumscape shorted in the last few months let's hear from leslie picker reporting on this. >> it's been a winning bet for ev-bears in recent months, take a look at this chart, it says it all. shares of ev companies taken public through spacs big decline since february and march time frame. short sellers have made paper profits of $412 million this year on these names alone and short interest remains double digits for most ev-companies that went public via spac. now short seller told me today eve's are the most speculative corner of the spac universe,

many are pre-revenue and share pie in the sky financial projects part of their marketing. >> especially with ev spacs it's really things that you can't say are theoretically impossible, they are theoretically possible as is major asteroid hitting the earth in the next week but they're not realistic. and that's unfortunately why retail investors have been burned >> block had been short excel fleet but said he recently closed that position amid a threat of gamma squeeze forming through dialogue on reddit he is not currently short other ev names at this time. another big reason for shortage in the space is investors are concerned about competition, according to auto equity analyst david whiston. >> when compared ev specs to

tesla who is young but will do millions this year let alone gm, ford, et cetera, it begs the question is ev spec the best investment for wide-range of investors, the answer probably not. >> of course all of this hits as electric f-150 that effects lo lordstown you discussed early. >> thank you lessee -- leslie when i heard gamma squeeze, i thought i got to go to tim seymour on this one. >> love the greeks love the gamma squeeze by the way, lordstown could have never been an ipo. i think people are misunderstanding the spacs dynamics there's been a lot of companies that have been part of spac-mania that never would have been justifiable ipo's and that's what analysts are saying,

ford's business by the way, they've never been more profitable, they've never cut their bad business lines, especially those in europe and then lay on the f-150 which is not just a high-margin truck, it's the most popular vehicle in north america. and you turn that into an ev-story, there's no way you want a partner there i will say on spacs, more of a market conversation, but the spac index after going through a very difficult time has actually traded up four out of the last five days. maybe it's a dead cap balance but i do think what was very, very over bought and again, shorting spacs is deep end of the pool, folks, liquidity very tight in a lot of these names. >> yep coming up no filter on these names. shares of snap jumping after social media wars. looking into that next plus virgin hitting stratosphere, the headline that got this stock blasting off when

"fast money" returns

we have breaking news out of washington, jafrgs -- aemon with

the details. >> president biden is expected to talk about the seize fire between be israel and hamas to halt two weeks of fighting which caused hundreds -- >> snap powering higher today, let's hear from julia boorstin with the details. >> yeah, melissa, snap kamala harris up abou abou -- the company unveiled a range of new augmented reality tools to make it more appealing for creators and developers. one to scan products and find similar products to buy online

in snap's app. also can find -- accurate sizing for eye wear and jewelry. businesses can build profile pages and offer the option for users to shop directly there for creators snap introduced gifting, a way to tip snap stars, new proediting tools and online destination to watch snap content off of the app for the company's quarter million developers, snap's new tools have ability to lay a map on to everything else they're doing. one of the partners posh mark soaring over 9%, bringing a mini shopping experience within the snap app we'll talk about all this and more with snap ceo evan spiegel he'll join me tomorrow in tech tech. >> just to get it straight, you know, guy tries on a bag, some jewelry, he decides he wants to buy it, he can remain in snap and actually make the purchase

>> yes so you can go in, for instance, posh mark will have a mini shopping app within snap you can log into your posh mark account or if you're another retailer you can buy it in the app itself of course snap wants to make it easy for brands to keep people buying things but also not swiping away from the snap app they want to keep you inside their ecosystem. >> we look forward to that," tech check" tomorrow guy, i know you're asking this is holy grail to keep people in and actually buying things >> huge news listen, i'll stick around on my snap application to get that beautiful channel bag i've been craving, without question vmt go back to january 3rd that first quarter of snap was really strong, stock was $58, sold off since.

look since january, third time the stock held 48.5, 49. i think you will see analyst raise their numbers and price targets. i absolutely think you buy the strength in snap here. i appreciate you pointing out that everybody likes a good bag from time to time. >> dan, you were shaking your head, in fact. >> i was shaking my head listen, here's where i struggle. i think the whole panel will say this, this is an $87 billion company. they have, you know, less than 2% of the ad sale that's, let's say, facebook and alphabet or google have toogether it's trading 22 times sales. social commerce, great, buy that bag within your snapchat it's just hard to justify. i think i said it before on one of the games we played i mean, twitter and snap should just smoosh together, right. there's a lot of complimentary stuff there. they can get some more heft as it relates to the advertising platform and there's a lot of good things they do differently.

maybe tomorrow on tech check should ask evan if he and jack can have a sidebar, let's get serious and take on the big incumbents >> unless you think the multiple for snap reflects there's a promise of commerce within a demographic that maybe facebook doesn't have as good access to as snap. tim seymour, can you see the case for snap here >> i kind of agree with the valuation. so, you know, this stock is two and halftimes pre-covid levels what has changed for the company in the last year that's really warranted that re-rating now maintaining the hierarchy they saw in the great q1 numbers guy referred to and also the ad spend we know is up across the space. but look, yes, having access to commerce look what it did for facebook on shops, it was a driver for the valuation there to me there's a scarcity value in the space, it's a way to get

exposure to ad spend look at the digital ad software companies and the valuations they have. the entire space is, i think, projecty a-- frothy and representative of high multiple stocks we've talked about multiple times even though snap is executing. >> coming up virgin galactic blasting up and kohl's breaking down big bet in biotech, options progress prognosis may not be great that and more when "fast money" returns. go with us and get millions of flexible booking options. expedia. it matters who you travel with.

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welcome back to "fast money. virgin galactic, topping the tape today, shares closing up almost 15% after the space tourism company announced another test flight for its new space flight system this saturday jeff mills, what do you think of this high-flyer? >> yeah, i mean, it's interesting, but if you look at the chart for example, so, may 13th, that's the date that all these speculative stocks whether it's this particular stock or whether it's ark, go across the board of stocks trading in that way, that's when it bottoms and it's riding the momentum it's speculative in nature

according to business model. we know that what will competition look like, it will continue to move with that trade and the broad market. granted the thing's down 65% but still trading at 220 times forward sales. if you believe in the story maybe it's a reasonable entry point i think if you want to play space, there are other div diversified spaces to go even ufo 80% of companies off revenue in the space industry. if you want exposure maybe that's let volume at. >> ufo etf guy adami. what do you think of the notion playing space at this point in time >> yeah, i would rather buy the whoever makes bonin or dramamine. zero chance. i will tell you, in terms of the stock, it traded 90 million

shares, almost eight or nine times normal volume. a huge flush obviously the stock had a good day today, at least in the form of that double bottom it's forming, you have something to trade against but you ain't getting me in space in the air and you ain't getting me in space in the stock >> all right, turning now to today's buzz kill, shares kohl's taking a nose dive more than 10% despite monster earnings beat this morning and so what went wrong here? dan nathan what should we do with kohl's? >> listen, we were over stored for these sort of stores pre-pandemic i just don't see some sort of retail renaissance, especially for these sort of stores, model-related ones to me, we talked about macy's not acting particularly well after their good results the other day. i know dillards had a very good one. i think these are value traps and don't think you want to chase them. >> yeah. tim, the ceo is very optimistic about the outlook.

>> look, i don't think there's a lot of value, i think they're recovery stories i saw a couple credit upgrades for kohl's on the back of these numbers. they also said they're going to see margin head winds from wages. >> yeah. >> they'll see margin head winds from an inventory build that is obviously a post-pandemic function the stock was a five-bagger off the lows of covid. as we said here, i don't know if anything dramatically changed to their business in terms of an evolution that needed to happen. it's been rewarded largely in the stock. >> coming up, options traders are buying big on one biotech name, tony zhang will break it down "fast money" back after this

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to protect every device on it— all backed by a dedicated team, 24/7. every day in business is a big day. we'll keep you ready for what's next. comcast business powering possibilities. welcome back here's a look at cramer cam, jim talking to ceo brian moynihan, check it out at the top of hour. tim, flagged this biotech rally move what's your trade. >> i'll tell you you look at the ibb and see where a lot has struggled.

gilead has been dead weight on the index around 6%. moderna is part of the driver here overall why are you buying this etf to get exposure to biotech because in amgen you have exciting pipeline and great balance sheet same with moderna. a high-growth company with catalyst and after re-rating dramatically i think has built a base so possibly a overall break out as we have seen the overall pharma and biotech space be defensive in high-multiple environment. >> 55 minutes in and into would you rather, so here it is, guy, would you rather, big pharma or biotech zm. >> biotech in the form of ibb. tim is right 174.5. not coincidental that ibb topped out as the peak great news for the vaccine came out ibb held 147.5 few times suns march, so would you rather, ibb. >> all right "options action" on one biotech name in particular,

tony what did you see? >> yeah so gilead today traded very actively, averaging normally 24,000 contracts but today 99,000 contracts but 75% of that was from a single trade where a trader rolled 17,500 of a short synthetic position to august buying themselves 90 days to take 1.75 million share short position in gilead about $121 million in notional value. i don't think this trade is an outright short position, i do believe this is a hedge against perhaps a equity position that this investor currently owns in gilead. >> tim, would you say this is dead weight of the ibb. >> it has been. >> yeah. >> there's different periods to get excited about gilead but i think the jury is still out on this whether it was their move to on oncology, it was exciting

trade at the time but has been dead weight. >> thanks tony zhang more "options action" tomorrow at 5:30 p.m. eastern time, up next, final trade. so you're finally supporting his rock star dream... because you know you have a plan to pay it off. buy now, pay later, with plan it. one of the many things you can expect when you're with amex. that building you're trying to sell, - you should ten-x it. - ten-x it? ten-x is the world's largest online

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. time for the final trade, let's go around the horn, tim seymour. >> we started to talk with jonathan golob about trade that's are structural in the market, the auto and banking sector and some industrials are finally breaking out after a decade of doing nothing, the story around ford is not just the f-150, it's a company that's run right and exciting part of the ev world, so ford motor company. >> jeff mills? >> i'm a buyer of the disney dip. anything approaching support of low 160's is a good entry point, after the miss, it's going to be a huge growth for the company and parks are open so disney. >> dan nathan. >> yeah, a agree with mills on that call holding disney at 170. i also think you will see twitter filling in the gap here to me so i like twitter here. >> guy adami. >> mel, on a scale of one to ten

how shocked were you last night by cory kluber's no, no. >> 8.5 hands down, easy. >> yeah, you're so good at this. it's incredible. >> well done. >> that's what i was thinking, 8.5, well-done melissa, your sports knowledge eryve ceases to 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. i'm trying to help you make money. my job is not to just entertain you, but to educate yo