week consumer confidence tomorrow as well as new home data are two areas of the market that started to pause or wobble keep an eye on the results there. >> will do s&p closed out with a gain of less than a percent of the all-time high. "fast money" begins right now. >> i'm courtney reagan this is "fast money. tonig tonight, we're trading the crypto chaos bitcoin bouncing back today following another weekend of wild moves and the digital currency just took another big leap higher on the back of an elon musk tweet what else? what he said that lit a new spark. plus, we are track the afterhours action in shares of loris town motors. and later gearing up for a big week of retail earnings with a

good old-fashioned game of shop it or drop it. fiend out which retail names the traders are adding to their cart we start with the rally in big tech the nasdaq jumping 1.4% today outpacing gains for the s&p and dow and closing at the highest level in two weeks the titans of tech were among the biggest win of the day, alphabet, microsoft, apple, facebook, amazon adding $160 billion in market cap today. not all stocks participated in the rally. peloton and snowflake were basically flat on the day. let's talk about it all. what do you make of the action in the high flyers today, tim? >> first of all, welcome to "fast money." >> thank you. >> great to have you here. today i think, as you said, big cap, megacap tech names

outperform the most important dynamic for markets to move higher the semiconductors were really the leaders. and the market leadership from technology is coming from semis if you think back to the smh, the eft that tracks the semiconductor index, hit all-time highs in mid-february in fact, it had been under a lot of pressure in the pull back that we saw that really turned around early last week but back above the 50 day for the semis is an important dynamic. again follow through from the apples which staved off that 200 moving day average some of the technical support from the farkt from megacap tech is very important. then you have seen the broader participation as you said. financials, retail, even energy back in the game today so very, very important day. to me semiconductors and then the most important companies like apple and google asserting leadership again >> nadine, what do you make of the semiconductor trade idea tim

is bringing up video shares higher than 4% today, one of the leaders in the nasdaq 400. >> it's a great point. one of the things we were looking at is the cftc options and futures data people were slightly short of tech, especially on a three-year basis is which important to note something like minus 12% of volatility discount. it means that people are somewhat protected, not protected, not complacent. we think it's a great day to layer on protection. we are a little bit less bullish, but we take into account what he says about the semiconductors. >> what do you make of a name like peloton being flat, sitting out what was going on today, even with the news they are opening a new plant in ohio, so maybe the supply shortages could be alleviated if we see another surge, you can get the bikes and treadmills a lot faster. >> yeah. for this one and some of the

other flyers that find sort of a bid today this one though, you know, there is concerns about, you know, the world is open again, will there be a decline for peloton demand but to me it's valuation it's still expensive so this is one that even if you think the brand is enduring, which i think its, i love my peloton, i use it all the time, valuation, i can't quite get there. we had fed, and i am not sure bostic or who the second one was talking about inflation, they really believe or telling the story of it being transitory and if that's the case then that argument for inflation, which i believe we are going to have inflation, but maybe not such bad inflation, means that if inflation is under control, then the fed doesn't need to prematurely start addressing that and so p.e. multiples stay

higher, which is good. as to, like, google, facebook, i don't know why they were up today. i don't know why they were down last week really i am happy i still think even nice rally today, but to me those are still the value in the f.a.a.n.g. names. >> i like it karen, you know an awful lot dan, i want to get you in before wenov on what do you think? inflation is the story is it semis that are the story what do you make of the action in today's market? >> inflation is the story that everyone wants to talk about the fed speak, the fed seems pretty consistent on the fact that they see a lot of precious as transitory. we will look back on 2021 and say this was the great transitory tantrum the way we look at 2013 about the potential for rates going higher i suspect a lot of the inputs, that a lot of companies are talking about as it relate to

wages or inputs to their products or services, that sort of thing, i think they will even out on the other side of the pandemic here. as it relates to valuations and karen just mentioned that inflation is transitory, then we are likely to see rates stay, you know, maybe the fed doesn't feel the need to raise rates, right, at that point, and then the valuation really becomes a concern, but it brings you back to earnings and these guys were talking about megacap techs. we saw phenomenal earnings out of most of the megacap techs and the stocks didn't rarl and we saw some of these names, amazon and apple never broke out. he will fa bet, microsoft, and facebook came back to levels, they are back at near highs here let's just be really clear there is going to be big tech earnings this week nvidia, work day, zscaler, zscaler and work day in particular, saw significant declines from the highs here nvidia a different story i think those are the main things to key on this weaning is

earnings that should move the stock market obviously, interest rates and worries about inflation are important, but we will get key data points in the sectors that really are moving the markets right now. >> workday had a nice victory with phil lebeau over the forecast dan, you were nodding your head. what else do you think is going on here in the market and what the fed should or should not be doing if inflation is indeed transitory >> well, dan is rightly pointing out that transient tantrum he is koing another phrase as he likes to don "fast money." and i think, you know, those are -- look, the dynamics around whether the fed is behind the curve or whether the fed is just going to begin to start to massage expectations or really irrelevant to the fact this is about liquidity-driven market flows and also investor positioning. the last two to three weeks took loot of prop out of the markets. i won't say that it still stihl

doesn't remain bullish if you look at measures of investor positioning, i think we're at a more modest level you worked off a lot of overblock conditions look, he brought up amazon great stock to bring up. if you look at amazon, the 200 day is downward sloping for the first time in a long time. barely a stock that's doning in nothing since last july and on some levels should be showing leadership for a sect their is trying to figure it out. ultimately, it comes down to have we begun to normalize earnings and, therefore, to me, that is a time i would be more concerned about the dynamic or companies telling you, okay, we are not at 70% of covid, we are at 100% of pre-covid the wage precious, transportation pressures and costs worry me i care more that the market says, okay, mulligan is gone, to use the mickelson term he didn't need too many of those over the weekend i think that's what i should be worried about as an investor

normalized earnings are a place to fade some of this rally. >> and nadine, i want to give you the last word. you were nodding to a lot of tim's points an open question there to you. what do you want to follow up on >> i think tim makes a good point on investor positioning. we look at that a lot because that tells you, that as well as liquidity and money flows, where is the money come from, is there a continued appetite there is cash on the sidelines you have seen that people are willing to trade tech down you have to be really careful because they have to not just comp their comps, but keep surprising to the upside we saw this past quarter the reaction wasn't as positive as the earnings printed you have to be careful at looking at the printed earnings. it really has to wow investors at this point. >> yeah, expectations are so, so high for so many of these companies whether it's tech or the area that i cover like retail

some blowout numbers and the reaction was merh from the marmter market. we have been talking about momentum names etf ticker mtum is expected to rebalance in the coming days our next guest says the $16 billion shake-up will put a new focus on value over tech so here's an interesting one let's bring in chris harvey, head of equity strategy at wells fargo securities chris, appreciate you being here tell us about what you anticipate happening with this shake-up and what that means why it should matter to us >> maybe we will go back to what some of the guests were saying they are saying, hey, the reaction on tech was great, earnings out of tech was great but the stocks didn't do anything one of the reasons why the stocks may not be doing anything is they are no longer the momentum trade they are no longer the qu quote/unquote the chart looks good we are seen quanta move away, momentum players move away and

this rebalance you will have tech go down from 40% much the index to about 17. and let's not forget the russell will rebalance in another month. tek -- [ inaudible ] placing it, you are seeing more cyclicals and value type stocks. financials were south of 2% in the index. they are going to go north of 30%. so now what momentum is or what i should say is financials are the new mo trend. >> do you feel like, chris, that is the right sector to be focusing on as the new momentum trade, as we are in this low interest rate environment? >> well, what i think is if you are a momentum player, what you do is you pile into what works and you move away from what is working. so to answer the question technically, should people are moving into [ inaudible ]. if we look at at fundamentals of financials, they were good

we can argue where warates are going to go. the curve is steepening, credit is tight the consumer has a ton of money. they are ready, able, willing to spend and the activity is beginning to tick up by the way, even no financials have outperformed relative valuation is still attractive because numbers continue to go h higher. >> chris harvey, thank you very much for being here and explaining this rotation to come chris harvey of wells fargo. all right. team, what do you think? tim, i will start with you what do you make of this financials being the big overweight in this momentum index? that's interesting, an interesting way to think about it. >> it's fascinating. i mean, financials have been -- you know, since the financial crisis it took to the middle part -- actually towards november of last year to get into breakout and fresh highs if you are measuring across the board, a handful when you consider the crisis like citi bank still well, well below. but chris pointed out the

definition for this index really is about where there is momentum and where technically it's not about value or growth, it's about where there is momentum. financials to the extent -- fed dynamics are, if anything, they are going to be coming into play and maybe flattening out the yield curve. but the reasons for the fed at play is not only a better economy, but obviously a steeper yield curve. the fact that the consume everybody credit issues are very far away from people's minds the provisions and some of the fundamentals behind why the big money -- i think has a lot of ammunition to surprise to the upside because they provisioned so hard in the early part of covid while sales and trading and investment banking and mortgage origination and all their core kind of pillars of growth or, arguably, not done as well ever in unison as they are doing right now. the fundamentals to me make a lot of sense it's tough to talk about banks

in a momentum index, but here we are. >> that's what i thought, too. karen, what do you think about taking down consumer discretion from 19% of the index to over 10% and health care also losing about 8% of its percentage weighting in this momentum trade? >> i was actually surprised to see that health care weighting because, i mean, you know, i look at pharma a lot and that hardly feels like it's, you know, knocked the cover off the ball where some of these things are trading. that was surprising to me. i don't know if that's in the biotech space or some -- you know, like moderna, something like that, that have gone nuts that one was sort of interesting. i got to say one thing that tim said the idea of financials really being the, you know, that's where the momentum is. i mean, i don't know i feel like -- i mean, i like financials for a while didn't work. did work now it feels like it's kind of

later to the party i don't know maybe you can answer this question for me. what constitutes momentum? i really don't no. is it a volume thing, price move thing? how much it moves over time? >> yeah, dan - >> i don't know. but i feel like some of that has already happened. > >>is i was going to ask chris if they were plate to the party and if we need to change the name of the eft. bring us home, dan. >> at the end of the day a $14 billion eft, you know, that probably built on quantitative models and then making purely qualitative adjustments based on the lack of momentum, the lack of upward momentum, you know what i mean, in some of the names. they are taking tech down big. that consumer discretionary 40% eft, it's amazon and tesla tesla is down 14% and amazon unchanged. at the end of the day, i think

it's probably backward looking and i probably would stick with the underperformers and rotate out of the overperformers that they are putting into the thing. >> a good point on the consumer discretion names with amazon and tesla making up a big part of that. coming up, lordstown motors reporting results moments ago. buckle up for that trade ahead plus, the crypto coaster continues. it's a wild ride bitcoin bouncing back in a big way today. our own bitcoin baller bryan kelly is standing by to break down the wild vemos. stick with us. "fast money" back in two as your broker, i've solved it. that's great, carl. but we need something better. that's easily adjustable has no penalties or advisory fee. and we can monitor to see that we're on track. like schwab intelligent income. schwab! introducing schwab intelligent income. a simple, modern way to pay yourself from your portfolio.

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and ask how you can add comcast business securityedge. 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 got an earnings alert on lordstown motors shares hitting afterhours lows, down almost 10% after reporting results. let's get over to phil lebeau for the details. hi, phil, what happened here >> courtney, it's not the numbers that were reported they are prerevenue. they had a loss of 72 cents a share. there is nobody on wall street who is focused on what they reported for last quarter. they are focused on the outlook and guidance from the company. this is a company that has thrown up red flags in telling people, look, we are expecting

higher operating costs, 2021 production, you know, when it goes up at the end of year will the half or less than the prior plan, originally they thought they could build 60,000 vehicles starting the end of the third quarter. they are saying half or less of that and most importantly, they will be need to go raise capital. here is ceo steve burns. >> our research indicates a robust demand for our vehicles however, capital may limit our ability to make as many vehicles as we would like as such, we are constantly evaluating our capital needs and the various types of capital available, including strategic capital. >> they are looking at some type of a asset-backed loan and they have assets they have the facility there in lordstown, ohio. it has a stamping plant. they have no debt on their books. the other possibility bringing on strategic investors

they have not said how much money they are looking to raise, but they have said that they will need to raise capital as they work on rolling out their first vehicle which is the endurance electric pickup truck. production is expected to start by the end of the september. that guidance hasn't changed but steve burns during the q&a with analysts was asked why are they pushing this back in terms of the expectation of needing more money, not pushing back production, but needing more money, here's what he had to say. >> look, this is costing us more than we thought it but relative to, now, the conventional thinking, we're moving very quick and at, you know, really doing this for a good pricing so we're very happy with it. we don't like that it's moving the target is moving a little bit, but we have taken the attitude of first to market is everything >> in terms of the capital raise and when we might hear some news on that, they is say that the discussions with some of the

possibilities are rather mature. now, that doesn't necessarily mean we are going to have an announcement within the next several weeks or next month or so, but steve burns was pretty clear that as they are rolling out the endurance and getting the endurance up to speed in terms of production, they will need more money and again courtney that's the reason you see shares of lordstown down 9% right now. >> yeah, you got it, phil. thank you very much for filling us in on that and the details from the call. let's trade it i want to start with you, nadine production at 50% of prior expectations by the way, we need more capital. what do you make of this one >> courtney, i this you know the answer that was a rhetorical question. >> a little, right >> something like, yeah, something like this, not to use a bad fun, but ford is putting the brakes on them 2-1 downside going into this print. you are also looking at 28% short. so for viewers, don't short after this kind of news. but you have a problem here.

you have ford coming in at 40 grand versus their truck at 52 you have ford saying, hey, we have 44,500 reservations for f 150. so maybe they come to market first but somebody has already sold trucks. you have to be careful in a name like this. i wouldn't short it but i wouldn't be holding it. >> tim, you are shaking your head you are not liking this at all >> look, i mean nadine it's important. this is a disaster look, i mean, this a guy saying, research says people there is demand for the vehicles. no kidding ford will have 50% of their entire fleet by the end of the decade will be ev. 50 to 75 in cash and catch ecivillents guided for end of 2021 that's a disaster for a company that's begging for cash right now. and, frankly, just, you know, burnt a couple hundred million in the last quarter. there is so much competition there is so many players that have -- look, the f-150 is the

most popular vehicle in north america by far and it's about to be an e v-vehicle. there is a cash burn problem, a credibility problem, an s.e.c. probe and it's not close to being on the road. you know, this has had a lot of euphoria and hype and dare i use the term momentum behind it. that's about all it had. >> yeah, at this point i think things are looking in the wrong direction right now. but we'll continue to follow it, of course. it's an important and interesting story. we are just getting started on "fast money." here's what's coming up next. >> the crypto craze continues as bitcoin surges and the bitcoin baller is joining next to break down the moves. plus, we will meet you in the checkout line. a ton of big retailers on deck to report earnings so are you shopping or dropping these names? we've got all that and more when "fast money" returns need better sleep? try nature's bounty sleep 3 a unique tri layer supplement,

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welcome back to "fast money. check out bitcoin. soaring nearly 20% in today's session. the cryptocurrency was already up big and then elon musk tweeted this spoke with north american bitcoin minors they committed to publish current and planned renewable usage and ask miners worldwide to do so potentially promising. that sending bitcoin higher. and since last monday, three double-digit drops during the past week. bitcoin is still more than 40% below its highs, but one crypto pro is having a case of deja vu and he thinks this recent volatility could be a precursor for a big bull run ahead

joining us on the fast line is our very own bryan kelly a bitcoin master himself onc. b.k., explain what's going on here. >> well, what's going on is actually fairly normal for bitcoin. it doesn't feel that way if this is your first time getting in cryptocurrencies but this level of volatility is very normal for bitcoin. secondarily, what i have been looking at is what happened during the 2017 bull run, which we remember fairly well, but if we recall in july of '17 you saw china ban trading there. and then they again in september of '17 they came out and they closed all the exchanges well, in july of '17 we have a sell-off just like this weekend because china banned mining at this time. and so it looks uncannily exactly like that pattern. to me, if you look at it, the next part of this -- the next part of it is just a mathssive

rally in '17 bitcoin rallied to 19,000 over the next six months. >> int's funny when you find pattern when it comes to cryptocurrency trading dan has a question. >> hey, i love your work so quick question because it seems like there is a lot of focus on the bitcoin here, you know you have all these people like elon getting everybody turned around and it seems like we should be focussing on the ethereum network prior to the sell-off, we saw massive outperforms. so many interesting things on that network and protocols and the like why are we spending time on bitcoin mining when ethereum is going to be working to proof of stake this summer. isn't that what we should be focused on >> a fantastic observation and question, dan. i couldn't agree more. i could care less what elon musk thinks about bitcoin

it's a decentralized currency. where the excitement is right now is where ethereum is concerned. they are changing their algorithm, so it is using about 99% electricity than bitcoin they are changing their monetary policy, so under certain circumstances you might guess a deflationary currency. finally, almost all the defy is built on top of it there is a lot of activity on the ethereum network it has out performed bitcoin at this point that's not to say i don't love bitcoin. i do ethereum, if i had to choose between the two, ethereum has more upside to me than bitcoin does >> hey, you have been in this game a long time this kind of volatility seems a little different with the intraday moves being so bichlgt is that because -- maybe it isn't happening, make it appears that way, isn't so

does the retail investor and their, you know, the coinbase and, i don't know, other retail investors that weren't in bitcoin in the last few cycles, are they part of what's happening here are they quicker in and out? what's causing these big gaps down and up? >> yeah. it's a good observation because this was a pretty big sell-off even when i talk about the 1-1 in '2017, that was a 20% peak to controversy. this also almost 50% peak to trough you have more leverage on the speculative front. a lot of asian exchange you can get 100 to one leverage on futures. that has grown exponentially in the last couple of years the second part is this kind of lending portion of the bitcoin market where people are peer-to-peer lending and getting paid 7, 8% yield on that the thing is that that collateral lick dates if bitcoin falls down you have more leverage from both

the speculative traders as well as those people holding it trying to getth get yield and that conflicted contributed to h drop at am same time a huge nuamounto volume when the exchange is broke. everybody coming in to liquidate and it created a cascade of selling. so it exacerbated the volatility this time. again it's not a fundamental change it's just for selling in my view. >> so, b.k., two important questions here on the last two big sell-offs in crypto have taken place over the weekend, does that have something to do with the fact that futures markets are generally closed and they are used to hedge a lot of positioning? and the other question, "the wall street journal" had this big article today, a decentralized token exchange here are we seeing a lot of activity on decentralized exchanges is that exasperating the volatility >> so the phenomenon is fairly

well known in bitcoin. they get a dip like on saturday night, a lot has to do with the fee at the u.s. dollar. the banks are closed if you want to add more money, you can't wire money in to buy bitcoin, let's say the coinbase or something like that the weekends tend to be a little bit more thin trading. it gets pushed around a bit more on the decentralized exchanging, deintensify is ex playeding. it's the disintermediateiation of financial conversations and you are seeing it in uniswap, 40 x growth on the volumes there and that is where everything is kind of shifting to. not to say that centralized exchanges won't have their role, but defi and decentralized, dexes are having their moment, and i think they are here to stay. >> thank you, b.k., for joining us here tonight. tim, i want to get you in here real quick what do you make of this trade i mean, are you interested in trying to play the weekend

volatility moves or is this something you want to stick away from because, i mean, who the heck knows why these things are moving the way they are moving >> first of all, when i hear 100 to 1 leverage, i mean, it's shocking and we htalked about it last week bank of america's fund manager survey put bitcoin at a very crowded trade. one of the more crowded trades they had ever seen again i think market positioning, b.k. talked about a history of volatility in an asset class that i think largely expects this and so dan gets into the fundamentals and really the use case and platform and even some of the evolving technology around ethereum and that platform i think that's very really real. i think investors need to be less concerned with fomo and understand where they want to make allocations for the long term trading weekend volatility is how you get your hands cut off. >> next time we need karen's daughter in here

i learned she wanted to invest her bar mitzvah money in bitcoin and that was a big trade she could have made. that was, woo, what a smart girl there. >> yeah. mistake. giant. speaking of fomo, right. cnbc's first nft is now up for grabs. we are honoring the mark haines bottom highlighting the day the late great cnbc anchor mark haines said the s&p had hit a low during the depths of the financial crisis it's really one of the best market calls ever. he, of course, died ten years ago to the day the auction is opal until 10:30 a.m. eastern on wednesday. if you don't want to participate in the auction, we have a set number of nfts going at a fixed price. this might be a good way to explore this new kind of investment that we talked so much about all proceeds go to autism speaks, a favorite charity of mark's, and the council for economic education, which focuses on financial literacy. it's all up now at

mintable.app/cnbc. this is a carbon-neutral event we are purchasing carbon credits from a firm called aerial to make sure we have no negative impact on the environment. go to mintable.app/cnbc. coming up, we are going shopping for opportunity bunch of big-name retailers reporting results this week. find out which stocks or traders are adding to the carts. investors going all in on draftkings the stock rallying in today's session. is it time to place your bets on this trade don't go anywhere. "fast money" back in two in business, it's never just another day. it's the big sale, or the big presentation. the day where everything goes right. or the one where nothing does. with comcast business you get the network that can deliver gig speeds to the most businesses and advanced cybersecurity to protect every device on it— all backed by a dedicated team, 24/7. every day in business is a big day.

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welcome back to "fast money. a big week for the retailers a number of big names like costco, best buy, gap and capri reporting results in coming days we thought it would be the perfect time for a game of shop it or drop it. let's kick it off with gap karen, are you shopping or are you dropping it? >> i guess i would be much more of a shopper than a dropper. i think gap has done a decent job of getting momentum, using some of this time during the pandemic, they closed, i think, 350 stores

so rationalizing their store base was really important. it's not a crazy valuation, and i do think people come back to the office and gap will have, you know, jeans -- sorry, khakis that everyone will need. they don't want to be so formal, but can't be so casual being in sweatpants like we have done for the last year. i would be a shopper of gap. >> shopper, okay tim, how about you, shopping or dropping gap >> yeah, sorry, i'm dropping that again, a move from 6 to 36 is a function of oversold on the way down certainly as we talked about, the restructuring that was forced by covid helps gap a lot, right. they did a lot with the leases they were forced to move into a digital framework. there are catalysts here banana republic, dan will be back in his khakis soon enough and easy if you look at the sneakers, also a catalyst. i think so much has been priced into a recovery story, i think the bar is high from here.

dropping it. >> i like they are giving us numbers about ath let fy next up, best buy. nadine >> i would definitely drop it. ubs came out with something recently showing it was a five-year high valuation versus the average. they have done really, really well during the pandemic i think there will be a lot more out of home entertainment, people will spend less on products government stimulus will be softer by the fall we have, call it, 1.5 to 1 downside versus upside i would drot the name. >> dan, best buy, shopping it or dropping it? >> i am shopping this one here i think you make a lot of good points just of late, i mean, the stock just like amazon has not made a heck of a lot of progress. since last summer, it made a 52-week high earlier in the month here i suspect that this company puts

up a good quarter and that guidance is better than people expect dean just laid out what the bear case is. maybe they realize some efficiencies -- most of these big box guys, expensive to it's history, trades, expensive to its lihistory, it's still cheap. a good quarter, good guidance, you have the stock breaking out. >> let's move to capri karen, are you shopping it or dropping it? remember, of course, this is the company that owns michael kors, versace and jimmy choo. >> right so i have been -- i owned it for long, long time. if you go home long, it's like if you would buy it here think they report on wednesday we will see a rebound in asia and some starting here i think more to come here as people dress a little bit fancier once they start going out more the other thing about capri is looking next year, it's not expensive. and if you buy at all this notion of them becoming a luxury

conglomerate, it trades nowhere near a luxury capitol conglomerate parse for all those reasons, ai am a shopper. >> nadine, shopping it or dropping it? >> i am in agreement with karen here i would be putting it in the shopping cart. so, you know, ralph lauren had strong numbers we have seep n good numbers outo the asia recently. you definitely want to stick with luxury. that's where, obviously, money is in the pockets of a lot of people so it's been up 26% year to date we think there is more to come. >> mr. tim, do you have a question >> yeah. i have a question just on pronunciation. is it capri or capri i mean, i know it as capri capri is a great spot in the world -- >> i was told by the ceo that it is named after that great spot in the world, so it is capri. >> oh, look, i didn't mean to correct anyone in public i had to ask. >> well, you know, that's what the ceo told me.

all right. well, that was a fun game of shop it or drop it coming up, it's not lady luck. draftkings heading higher today. what's behind the big move we are digging into that trade next and later we are trading the builder boom the home builder back on solid ground after a few rocky weeks is there still opportunity here? we will break ground on that trade when "ston" tus.fa meyrern

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welcome back to "fast money. shares of draftkings topping the tape today check out the stock. surging more than 7% and outpacing gains for the rest of the sports betting world despite the gains, shares are still 35% from their 52-week highs. so, dan, are you rolling the dice on this trade what do you make of the move today and going forward? >> yeah, i think you roll the dice here. this chart, if we have a chart since inception, since it went public through a spac, like bitcoin here, there has been four peak to trough declines of about 40% on average and they have all been good buying opportunities. this is just a secular shift that's happening with sports gambling these guys are well positioned to do it they have a great brand, great partners, they seem to be focused on the right sports

here to me when you have those sorts of opportunities, down 35, 45% in the game, that's where you enter the trade. >> karen, are you betting on this one >> well, i don't really like to bet. i think of it more as investing, i guess. i have mgm, which, you know, is part reopen, part online gaming. i followed it last career. i followed barry diller into the game and they don't usually take billion dollars stakes i found that interesting they thought they could help with their online presence i like it. it's not cheap here though so, yes, betting now it's betting. >> now it's betting. all right. coming up, the home builder cranking out gains today, too, as the group tries to rebuild after a couple of rough weeks. one big name is reporting results after the bell so we've got your setup when "fast money" returns

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>> one that tim is on that i really like as well is whirlpool. they had just an outstanding quarter of the p.e. multiple really low i guess people think we are at peak washing machine i am not sure. i think there is going to be legs to this and, you know, they talked about their price input. the raw material costs going up, and yet they were able to price

their products higher and actually improve their margins dramatically that was a good story. plus, big brazil exposure, which hasn't been good, but i believe it will be good in the future. so to me that's my favorite way to play it. >> laundry is in fact my favorite so i would make sure my washing machine is top the line. we are going to learn more about the state of the homebuilders when toll brothers reports earnings tomorrow. let's get to mike for the setup. hey, mike. >> hi there. toll brothers is going to be reporting. we saw three times as many trading as usual calls outpaced puts by 2.5 to 1. the options market is ig playing it will move 6.5% higher or lower by the end of the week the most active options with a july 65 calls. those were being sold, we saw a sale of 465 of those taking place at a $1.630.

that's isn't bearish somebody who is bullish is not overwhelmingly so. this is likely against the long stock position stock traded 66, $60.66 at end of the day that would represent 10% of upside over the course of the next two months if you incorporate the 17 cent dividend they will be paying in june. >> thank you for setting us up ahead of those earnings. for more "options action" tune into the full show friday, 5:30 p.m. eastern time. coming up next, he ur fil esweavyo ♪ ♪ ♪ ♪

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- [student] i knew snhu was the place for me when i saw how affordable it was. - [narrator] find your degree at snhu.edu. time for final trades. tim, you are up first. >> first of all, a pleasure to have you thank you for joining us my final trade is draftkings again, this is a story of online sports betting of high gaming and really a growth story and that's the story you are chasing. >> karen >> yeah, let me echo, nice to have you here. good to see you. even though we don't actually see you. my final trade is viacom i like it right here with the content as we saw from amazon

supposed deal for mgm tomorrow so viacom. >> awesome nadine >> today i'm looking for protection so some put options if you own some long tech shares on the xlk or the qs or treasuries to in case there is inflatio . my mission is simple, to make you money, i'm here to level the playing field for all investors. there is always a bull market somewhere and i patroromise to p you find "mad money" startsnow. hey, i'm cramer. with welcome to "mad money." welcome to cramerica my job is not just to train you, educate and teach. call me or tweet me @jimcramer where the heck did the seller g