there's a surge in demand. >> i think a lot has to do with exactly how the market is leaning with very strong year ten year treasure ri option with a lot of people re-upping their allocation with bonds, see if it accounts for the fact if people assume we'll get a hot number. >> and the meeting tomorrow as well >> we are out of time on "closing bell. "fast money" starts now. live from the nasdaq market site over looking new york city time square this is "fast money" tonight's trader lineup zpooirn, dan nathan, tim seymour and guy adami and karen finerman tonight on "fast money." the three words that sent the apes bananas. >> naked shorts. >> yeah that was it. >> so the question is are naked shorts driving wild swings in amc, you'll hear from a top s.e.c. enforcement lawyer who says it's happening in the market, what he says needs to be done to reign it in. plus gamestop stock move

loeger after the company reported results and named a new ceo. gamestop's call just getting under way we'll break in with any big headlines. and later, why karen thinks there's a real opportunity in this online retailer, that name straight ahead we start with inflation warning, signed, sealed and delivered, ups falling 40% with market outlook below expectations, looking to ring the alarm on rising costs -- rates fall today with ten-year yield dropping below 1.5%. who is telling the real story on inflation, company like ups and others warning of pressures recently, or the bond market saying everything is just fine dan what do you say? >> it's like what tom lee said the other day, bond market sniffed this out long ago, fears of inflation expectation is what we're looking at here.

and i think you want to go with the wonned market the bond market, it's one of the major expectations when you look at yields you look at the conversations ups is having, you said we know that a lot of companies on their q1 call said inflation, inflation, inflation, but might it be backward looking. we've seen so many things, maybe not crude oil but the housing market come in a bit your guess is good as mine we have the cpi print tomorrow, if it runs hot it will be explained away, if it's soft, yield are going lower and tom lee's point is great for equities. >> right campbell soup, proctor and gamble, chipotle, raising priegss or saying cost are effecting manager ins, this is prices or saying cost are effecting margins, and the price impact are forward looking interms of the consumer.

>> that's true i believe there will be inflation but i mean, seeing a lot of signs there won't be inflation too. i can't totally ignore that because it's not what i believe. we saw the ten-year come in, i think the cpi, like dan said, i agree, i think i was thinking if it's hot we may be able to explain it away, it's transitory, we've seen things in backwardation, we talk about lumber and copper, maybe that transitory story will still be valid, but like dan said, if it's cool then i think it will really have legs and then those high-flying multiple stocks, again, might find a real tailwind i think that's part of ark's theory that the high flying stocks are coming back and if inflation is lower that's support for that. >> you can also explain away some of the move in the ten-year yield, guy, the break down of infrastructure talks is

supportive for the bond market, we won't spend as much money having to issue more bonds. >> yeah i think that's a big deal yes, you're right. i think that's sort of -- didn't go over particularly well for the bond market or maybe did in terms of yields going low, depends how you look at it there's ways to explain it, what i will tell you is, russ costridge which is on from blackrock, he said yield in this country are still problem probably minus 90 basis points and he explained all of the liquidity, i would ask the audience, ask yourself where ten-year yield would be if the geniuses at the federal reserve weren't buying $$120 billion worth of stuff every month for last couple years, it's a reason question to ask, what happens when they stop. >> tim your take on yield versus what companies are say zbrg well

the ten-year traded beau low the 100 day today for the down side since jan 29 , 2020. remember when the bond market was telling us something well before covid hit our shores. i said a handful of times in different ways, i'd much rather see a 220 or a 260 possibly but certainly i'd much rather see higher bond yield than lower the pace and the move are things that we can talk more about and we've seen at times have been unnerving but as far as inflation goes, i think you break it down in terms of commodity price inflation in terms of bond inputs, the best way to control higher commodity prices higher commodity prices, there's always a supply response, that's not what worries me, i think the cost of guy's cheer mauio's will come b down at some point, it is inflation that is difficult to

root out, that's largely what we're concerned about, the dynamic here is possibly the bond market is two steps ahead of the fed i tht bond market, in other words, maybe assuming the fed is going to have to do something and do something aggressive when they are well offsides and they realize that, like they've done in the past, and actually that's going to destroy a lot of the growth we see out there. maybe that's what the long end of the curve is do. >> yeah. let's get stock specific in terms of what ups said, karen, it was the operating margin guidance for the united states, and so, what do you extrapolate from that, you like ups? >> i like ups, i have a much bigger position in fedex which traded down on the nose of ups, as it should, that's not surprising to me, it wasn't -- the margin number wasn't the problem, i think it was the expectation of an even better margin number, more than the number itself. we've seen a few times great numbers from company's reporting, we saw it from amazon

and apple, and yet the stocks don't react in a positive way. so that to me is part of also what was going on in ups expectations were high they onlied on analyst day they with move guidance higher not keep it around where the street was. so it's a little disappointing that they didn't move it higher, i certainly wish they would, as a fedex holder, i hope they do to me i still want to own them and believe in the story and the valuation, particularly for fedex, not great price action but it's not changing my long-term outlook in fedex. >> when you hear from a company that they are facing hiring cost and margin impact does it look how you look at the company as a stock to buy. >> no doubt, this company from 170 to 220 after the last earnings report and had been consolidating to all-times and one piece of news like is this bringing it back down.

how many weeks left of q2 earnings season in july, the s&p 500 was making a new all-time high this morning or there about. so if you're concerned about the s&p where it is trading and you have cheap names like this but warning on margin pressure there's a lot more expensive names in the market that could tell you similar things which could give you the pull back that i think a lot of money is waiting for. we've seen the s&p consolid dayconsolidate in this 4100, 4200 range and don't think anyone thought rates going higher would be the next thing to cause the sell-off. maybe it is a bunch of disappointing earnings which gives the fed more cover as they look at corporate america, they're seeing two consecutive weak job prints, if they start to see cooler inflation data, they have no sense, there's no reason to move. >> let me add, ups and fedex, they have pricing power and are using that pricing power, right. so that's an argument for inflation, i guess, as well.

but it's margin, it maintains their margin because they do have that pricing power. >> good point there. guy, karen made an interesting point in terms of looking at the data are you in the camp that believes inflation is all around us so if the cpi print comes in and doesn't show that inflation is too hot or is hot at all, at what point do you say, you know, maybe this whole thing is transitory >> yeah, maybe i should -- you know, it's interesting -- i shouldn't say you -- i try so hard not to be dogmatic but there's so many things around you to form uate your views and i'm seeing things going on in the world and things are clearly more expensive, no way around it, i mean, the system is being flooded with liquidity, there's no way around that regardless of where the number comes in tomorrow, inflation is clearly here, a lot of people stated that, whether the fed acknowledges it or not i have no control over it, clearly if you are just trying to live on this planet right now things

are clearly more expensive and i don't see that going away soon especially with all of the liquidity out there and with things opening up. oh, by the way, supply chains which are problematic, those things don't take care of themselves overnight we had that discussion last night. effectively everything in the history of mankind is transitory, just how do you define it. my sense is they will continue to define it whatever is official to their narrative. the federal reserve >> the fed impettent at controlling inflation, his words, peter the cio of bleakly advisory group and contributor for cnbc, great to have you with us, you think this is balloony basically, why. >> let's break out inflation between services and goods in the last 20 years service inflation on energy average increase of 2.7%

goods prices are flat. they've averaged zero. so this discussion is really about the goods side what we have is a reacceleration of services inflation which will go back to trend and even higher considering what is going on in the housing market and we're discussing now a cyclicals rise in goods prices, is lasting a quarter or two or maybe two years? i think it's going to be longer lasting, therefore not transitory in the fed's definition, though we're not clear on the fed's definition of transitory, it it a few months when you work out the base effect, or is something more i think if the prints this summer, in july, august, even into september, if they're hot that will tell us it's not so transitory n f ib, small business optimism revealed that those looking to raise selling prices rose to the highest level since 1981 that's not just something that goes away in a few months, it's

now becoming embedded. it's not just commodity prices, it's transportation cost, labor dayor now and it gets into the psychology that is just beginning. we've been seeing price pressure for six months and is now only beginning to filter into the consumer side and being now passed on. >> so peter, it's tim, thanks for joining us your views on the inflation and fed is very clear, you write one of the best newsletters out there. here's the question, what do you want to see the fed wake up tomorrow and do? because, yes, we don't want to see them buying ten-year apple paper or aaa bonds, but what's the answer even though we know policies offsides >> so qe right now, the only thing qe is doing is psychologically lifting asset prices an monetizing dealt, there's no direct transition

between qe and economic activity they need to ween us off the qe to get started that's amazing about how behind the curve they are, all we're debating is taper, qe, even if we're done with that well into next-year or the year after they still have rates at zero, so they're in a very difficult position to a on to that nfib comment with higher selling prices those who expect a better economy fell to a an eight-year low the static signals getting in industry that really makes central bank's job extraordinarily difficult because if they try to tap on the brakes to deal with in flags, well, then -- inflation, well, then they threaten to slow the economy further from a stack inflation type situation they're in a enormously difficult spot but will have to start ripping off the band aid soon. >> it's karen, let me play

devil's advocate, as we reopen it takes a while, how long will it bebefore we really get to, all right, this is the new, you know, economy running at whatever its real level is, not a reopen, which is obviously turbo charged, that would seem to be longer than the next month or two or three of data. could that then show transitory without showing stagflation. >> good question as the economy reoprens i argue things wee seeing with price pressure could last because of under investment, ten years plus under-investment in housing. take shipping, everything needed in this world ends up on a boat,

a plane, rail car or truck we saw huge amount of bankruptcy in 2019 in trucking, reduction of capacity not coming back, that is few years of pricing power, we seen massive shipping market pricing power in that part of the economy, now maybe we'll get cargo capacity back as passenger planes come back on line because they take a lot of cargo. but we still see, notwithstanding what ups said today, them and fedex have an enormous amount of pricing power that they haven't had in a while. it will take two-years to bring semidconductor plants, and more than that to be copper mines back and last thing you'll do is ramp up in oil investment and gas when you hear every day they want to put you out of business. there's deeper investment that will manifest in stick to your goods prices, which i said

combined with sticky services inflation you will get highe aggregate inflation. one last point is that, the global rates market, level of interest rates is not positioned for any upstart in inflation that lasts the ten year was four to five percent and had more normal interest rates around the world we'd be able to absorb higher inflation but with negative rates, zero rates, microscopic rates everywhere, year not positioned for any upside inflation surprises that last more than just a few months >> peter, thank you so much for joining us, great to get your perspective on things. guy adami, i think key was the last point peter made, that the market is not positioned for inflation, it's the expectation and positioning of it and we're just not there >> yeah. i mean, and i think the push back would be, you know, the market was trying to position

themselves for that when they sold the bond market off and ten-year yields went to 177. maybe we're seeing the after-effects of that. there's so many facets to this it's an interesting conversation clearly peter speaks to it much more intelligently than i do but his fears are in place, he's not dogmatic just reading tea leaves, we'll see how the market reacts dan has a great point with the 1.5% pivot point and the moving average all leads to rates going lower i just don't find myself in that camp. let's get to can gamestop call is under way, let's get to kate rooney with the details. >> gamestop pouring in after-hours. the call did just start but it also just ended. it was about 12 minutes, there was no q&a, the current ceo highlighting the company's

e-commerce turn around plan and successor hiring two new executives, first, new ceo matt furlong who will start june 21st he worked for amazon for nine years in australia gamestop also filling the cfo seat with another amazon executive, mike re c upero, these two hires fitting into the e-commerce strategy. not a lot more details they are complying with request for documents concerning trading activity in gamestop stock and shares of other company. as far as the numbers there's no comparison because the coverage is so thin only four analysts now cover this stock companies saw net sales grow 25% from last year on eps saw a loss of 45 cents per chair, that was adjusts. no guidance but sales in may up

20% year-over-year a little bit of a glimpse into recent performance i would bring more med l head lions, but like i glam i would bring more headlines but like i said the call is over. >> astonishing, 12 minutes has to be a record not surprising in today's day and age financial karen, i go to you er and age. karen, i go to you not having q&a for the four analysts may interact with the company in other ways since there's four of them. >> that's true but they have hundreds of thousands of retail shareholders that want to hear what they have to say. >> theoretically. >> i don't know. it seems to be the earnings are really not the story, obviously, right. it seem thesz want to get away from anything related to earnings, hard numbers, things like that. i think the hires sound good they seem like on paper that seems like a good team to hire but it's just not the story here i don't know what you do if

you're an analyst. is there anyone remotely higher than 30. >> so many dropped coverage of stocks like a gamestop and popular reddit stocks because they divorced themselves from fumt fundamentals and the shareholders said it's not about fumtals it's about where it's trading at this point. interesting to see the difference in approach between amc where adam arron is having an investor discussion with one of the so-called apes of the reddit army versus gamestop which shuts its call down after 12 minutes. >> the ceos are in difficult situations they know their stocks are uninvestable, saying it in the second offering memorandum they are divorced from fundamentals relative to where the price is trading i think they're probably great trading vehicles i read yesterday in wall street

journal that amc, there was $11.5 billion options traded associated with amc more than s&p, etf, the qqq, the nasdaq etf and tesla combined that was a $30 billion market cap so they are speculative vehicles and you're trading derivatives on them. it's hard for us to talk about it the analysts stopped covering it, they're not investing but they're moving like crazy and people want to talk about them. >> some want to trade it for that reason, they say, trade the move on they don't trade the fumts. no fundamentals >> although wasn't the story for gamestop in the beginning change in management and chewy's founder coming on board and changing the team and pounding the table with all due respect, these guys are probably very talented that came over from amazon but how senior were they

just slapping an amazon guy on your orgchart does that change your profile it doesn't sorry. i've seen it all the time from developing markets, you hire someone from a big company, it's supposed to be a catalyst. we'll see. the fact of the matter is there's been an alleged fund fundamental story for many following the stock, that's the reason for getting on top of it, but explaining momentum is some of the most sophisticated traders on wall street don't know at times. just call it that. let's call it that >> the s.e.c. investors into trading isn't helping the stock we're keeping track of. coming up on naked shorts, one lawyer saying what he's seeing and what needs to be done to reign it all in. plus big move in bitcoin, cryptocurrency climbing back after couple day, we break it

down next. we're live at the nasdaq market from thyme square. "fast money" back after this or it could be the day there's a cyberthreat. get ready for it all with an advanced network and managed services from comcast business. and get cybersecurity solutions that let you see everything on your network. plus an expert team looking ahead 24/7 to help prevent threats. every day in business is a big day. we'll keep you ready for what's next. comcast business powering possibilities.

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bitcoin, rallying back after the losses of the week, this coming as coinbase gets under-performed rating at raymond james calling it a sea of unknowns and expect more down side for the company this goes to the heart of where coinbase gets its revenue, the majority is trading commissions and say that gets competed away unless there's a barrier to entrier and there's no barrier to entry as f.a.r. as they can see. >> no that was their note, shrinking markets. dan believes it could be the charles schwab of this generation, mean be right. but raymond james is looking at the business model saying there's no moa t here. you have to take the research. this is just my opinion, you can't just look at coinbase and do a over lay of bitcoin price and say they're one-to-one i don't think they are what is interesting, if you look at micro strategies, up 10% on the back of some of their a nouchbsment -- announcements, the first time on the upside to

have that positive correlation with bitcoin so if you are inclined to trade the equities around it, i think micro strategy given the huge move to the down side and subsequent bounce if you're bullish on bitcoin that's better way to play it than coinbase. >> and dan what did you make of the call or bitcoin move. >> seems bearish is. >> you think >> it's been cut in half from the direct listings from the high that day, it's got $46 billion market cap, who knows what it's worth, you can say competition and fees are going to come down what i if if i told you in five years they'll token isaiah stocks on the nasdaq and they'll be the pine e.r.a.s doing it pie pine -- they were building institutional grade products for this moment and now there's plenty of institutions, is a bummer

bitcoin has been cut in half since coinbase went public in mid-april, yeah, i don't think they're freaking out at the coinbase headquarters. they have a different world view than a lot of people slapping sells on the stock. >> we're just getting started on "fast money. here's what's coming up next. >> up next, the three words that sent the amc apes bananas. >> naked shorts. yep. >> is really happening what's being done to stop it a top s.e.c. lawyer joins us ahead. plus a fastball coming at you from karen, a stock she says is a real wynner, that and more when "fast money" returns.

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wawrinkaing to "fast money." . welcome back to "fast money". we're continuing to watch shares of gamestop after reporting after-hours lows down more than 13%. this just one of the names that target of the reddit trade, in january gamestop had a short interest of 140% how's that happen? robinhood ceo testified before congress that quote the ability for the same share to be shorted an indefinite number of times is somewhat of a pathology that should be fixed. shorting still front and center in the reddit trade many pointing to the recent swings in amc swings naked shorts, illegal selling the stocks without having that stock to borrow, is naked short shorting the market, our next guest says yes it is. lawyer,

great to have you with us. system 13w4r57 >> it's nottent >> naked shorts would absolutely be illegal if the party is unable to deliver the shares, yes, under those circumstances it is illegal and if something is on the market for a long time what's happening here is companies like gamestop, amc, all these meme stocks have brought naked short selling really to the forefront of the market this has been going on for a very long time in a small-cap market and is very much a problem. >> can you give us an idea how big of a problem, you said it existed for a long time, is rampant, why isn't the sec doing something if it is in fact illegal. >> the short answer, it's difficult to find, and it's also not a sexy type of cases the s.e.c. has not brought many

naked short cases, they did bring one about three weeks ago, so in 2021, involving more than 90 naokoed short sales from december 26 through july 17, broker made $1.6 million in commission, it took four years for the s.e.c. to bring that case 2012 another case against woelton brother same thing took s.e.c. five-years to bring the case and charged -- charges that were not fraud or manipulation i think the reason is these cases are hard to find they're tedious to put together and it really is a challenge for the s.e.c. to bring these cases. now that it is in the discussion, hopefully we'll see more naked short cases charged as manipulativive or fraud

activity. >> is up to an option expiration and then kind of gets flattened out. how big is, do you think, aside from those two things. >> that's really the challenge we really don't -- we really don't know because a lot of it turns on, you know, on a very official, specific analysis. is there coordination? is there manipulative activity intraday as you point out. when i was at the enforcement i did a manipulation case involved marking the close of quarter end looking at 30 minutes of trading. doesn't have to be over extended time, the issue is to identify it, the people who see it most closely are those in the market. the question is are they willing to bring that information directly to the attention of the s.e.c. which often then means

also poking around in that company's books. so, i'd like to also add, the short sellers for a long time and to this day are an important source of information for the s.e.c.'s enforcement division. by no means do i want to suggest the s.e.c. has turned a blind eye. on the other hand we really have not seen that many cases over the years involving fraud on the short side >> i like that you don't want to say the s.e.c. is turning a blind eye but basically implying s.e.c. is turning a blind eye. that's exactly what's happening if i'm watching i'm thinking s.e.c. doesn't want to investigate the tips it gets into other manipulative or deceptive practices, et cetera. >> in fairness, it also is a matter of the information actually being brought to the attention of the s.e.c.. in other words, while the s.e.c. has powerful tools, if you thy about it, you know, what would satisfy the market most from

short perspective is naked shorts case brought forward quickly. i shared examples it took four and five years to bring the case the problem is the agency needs to see the conduct, be able to identify it and then look at the broker dealer's record, look at the funds record, look at the trader's record, talk to individuals. these are very tedious cases to put together as we have a heightened sensitivity to this issue in the market being brought to the forefront by higher profile companies and high erprofile meme trading activity maybe we'll more likely see cases in this area. but up until now we've only seen short sale fraud cases favoring the activity in the small cap market because it tends to be a much lower hanging fruit. >> jacob great to get your

thoughts, thank you. karen you have been looking into this in your own way making calls. >> i wonder if there's not impetus to do smig with naked short selling because the perception is it's the big players if anyone's naked shorting and they're getting slaughtered so, okay, let it be. yeah, you knower , it's the law of the jungle, i guess, it seems they're not going to pursue. >> yeah. tim, or they're pursuing it and it will be three or four-years before we see any sort of fruits of that labor. >> yeah, look, if there's a public perception that naked short sellers -- we all agree, is not something that should be happening and it's not always illegal but that if this is ultimately hurting the retail investor, you know, the commission, the s.e.c. is

certainly out there to protect the interests of of the broader investing public and i'd say on some level even more so than the institutional community, that maybe this is the calipari maybe this is the catalyst to spend more time and focus on this. it's interesting, as we talk about the gamestop, the reddit rebellion, the apes over the last 3 to 6 months, the story has been more about possible manipulation possible, you know, disclosure dynamics, the ability to push stocks around, not necessarily the reason why they got to an overly shorted place, i think. obviously the narrative is changing and i think the s.e.c. is paying attention to that. >> all right by the way, next wednesday i'll be hosting a global summit on the rise of the retail investor business lineup on cnbcevents.com/evolve to sign up coming up, rh rocketing higher after their results.

and karen will take the announced pitch her next home run invest the we'll bring you the name when "fast money" returns

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kuipers consumers get ready to take to the streets again. one name, karen has a fast pitch. >> so my fast pitch is the real real i really like it there's lots of reason let's look year-to-date, hasn't been great, the sell off started after the first quarter earnings, that gets me to the reasons i like it. they gave conservative guidance coming out of the last earnings report and people were a little disappointed with that, i'm never disappointed with conservative guidance, in this world it's hard to have faith in what's going to happen the other thing, the cfo leaving is a negative but he'll be there until the end of the year until they find a replacement. to me it was a sand bag, which is important instead of just reading the transcript you sort of hear the body language and i didn't get as dour a feel as the street did i liked it

let's look at the take rate, how much real real keeps that went down during the pandemic as you can imagine. so consigners, it was harder to get them to have someone in their home to pick up goods. and buyers had to get promotions to buy goods so the take rate, what realreal keeps that got compressed and the street obviously was disappointed with that, but i think there's a lot of reasons that take rate will go back up for one thing they're consolidating, they have two big distribution centers and they're consolidating opening another one in arizona that should be a lot cheaper to operate, to allow them to have shipping leverage to bring costs down to improve the margins, trying to get to $100 per sale figure that went down from 92 to 85, i think it's on its way back up the other thing interesting about it is, it's an esg play, talking about the circular

economy and sustainability and this is right in the heart of that yet at the same time it is the go-to luxury place to do that if you're interested in it, which i am the last thing i think that's really interesting about it is potentially could be a target for an acquisition i think at this ratio it is trading, if i look at the multiple of sales, at 3 and change, that doesn't seem very high to me, particularly when you look at the deal ets yrks just did which was a multiple way, way higher for a business that's not nearly as good. put all those things together there was an opportunity that the sell off after the call created that i think will be there very long. i'm long stock i really like it as we get more out of the pandemic, i talk about this all the time, people we think want to get outside, they want to dress up, they want to look nice, they want to go to parties, they want to socially be out there and they want to also save money so the realreal

fits a lot of those and i like the site anyway it's fun. all those reasons, i'm long the stock, i like it. >> or they need a good hand bag for watching around town guy, you have a question for karen. >> i do. karen, love your work on the "fast money." >> thank you. >> big fan for quite a long time and i know you would never buy a stock for this season but in the world we live in is there a short interest that would justify this to be one of those meme or jif stocks everyone's talking about these days. >> there is a short interest of 25% sets up for the meme world as you call it, that's not why i'm in it. it's all about the short interest there's a converter that converts 17 to 18, and as the convert goes up bond holders convert against it and i think 6 and change million by our calculations, 6 and

change million out of the $15.5 million that is short is a convert bond owner hedging their position, and i don't think of that as an outright short so the short interest is lower. but if the reddit community loves it, that's great. >> so it's more like 14% or whatever it is. >> yes >> not 20 minus 6 or so. >> right. >> all right no more questions, it's time to vote we're showing realreal chart after-hours it's up by 7% right now. are you buying karen's pitch on the realreal guy, kick us off >> well, mel, can you read my smart board please >> channel check, mikimoto check. hereme check. >> did i get that right. >> yes first of all never bust out retail again, with that there get nice scarves, it's perfect i'm with k 5 in '09 and 2021. >> tim seymour, how do you vote

>> listening to karen rattle off catalyst after catalyst she's hit a big fly known as a home run. i love the way the stock has been meandering and there are catalysts. >> 14% interest is nothing to shake your stick at and the fumt -- fundamentaline up.ndame. >> i would buy it for reals. >> you actually like this? >> i really do when you think of the acquisition etsy made for $1.6 billion enterprise value, yes, this company losing money but on a bigger platform ebitda trading at an all-time high, why not buy something with this business line profit. i like the call. >> these guys are all in

the question is are you buying karen's fast pitch on the realreal, vote on twteitr. we'll have results later in the show show much more fast after this.

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check out a couple after-hours movers, gamestop now down 12% rh on the move up by 6 coming up, option traders piling in, we'll bring the trade next and still time to vote on the twitter poll on cnbc "fast money" are you buying karen's pitch on the realreal. don't go anywhere, much more "fast money" back in two this is us talking tax-smart investing, managing risk, and all the ways schwab can help me invest. this is andy reminding me how i can keep my investing costs low and that there's no fee to work with him. here's me learning about schwab's satisfaction guarantee. accountability, i like it. so, yeah. andy and i made a good plan. find your own andy at schwab. a modern approach to wealth management. with a bang. find your own andy at schwab. energy and change came to every part of our universe. seismic or small it continues.

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welcome back there's a sneak peek at the cramer cam, jim is talking to the ceo of crowdstrike, catch the exclusive interview at the top of the hour on "mad money." let's check out macy's soaring 5%, as the national retail federation boosted its outlook forecasting fastest growth for the industry since 1984, options traders love the action, toney zhang what did you see? >> we talk about this name few weeks ago on options action where stock failed to break above $20 on earnings but few weeks later trying to break above that $20 level and today the options were five times the average daily volume, almost

200,000 contracts traded today we saw a very sizable trade. 9,732 contracts of the july 22 calls were bought for about 55 cents, that's about 2.9 million shares almost 10% of total trade volume now it's 15% higher in just the next 37 days so a sizable bet this trade is already up by about 35%. >> 1984, tim, you were at the snack shack and hess king, all that you're in macy's right >> look, i was working the food cork at the gallery mall, working at quick snacks. guy was at chess king, i was at merry go round it wasn't pretty macy's, since that time, went through a period it became ubiquitous and the marginal

dollar going to digital north of 50%, they're forced to restructure and their balance sheet is better, what do you pay for it, i don't have a position now, i think it's something worth showing some skaugs -- caution for that. >> tony thanks for that, more "options action" on friday, 5:30 eastern time there's only three more minutes to be precise to vote for karen's fast pitch do you think realreal is a buy head to our twitter poll, results when we come right back. we listen. like jack. he wanted a streamlined version he could access anywhere, no download necessary. and kim. she wanted to execute a pre-set trade strategy in seconds. so we gave 'em thinkorswim web.

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final trade is sponsored by interactive brokers, the professional's gateway to the world's markets. welcome back to "fast money. time to find out if twitter was buying karen's fast pitch on be the realreal and it was a real winner, 54% of voters were in fact buying karen's fast pitch so she won time for the final trade, let's go around the horn, tim seymour. >> if you saw guide ansz on restoration hardware, stock not expensive, i think you should really be buying restoration hardware.

>> guy >> twitter, sister. >> karen >> yeah sticking with realreal, i'll tweet more about it. >> if you have cool cpi number buy tlt tomorrow. >> thank for watching "fast money", don't go anywhere, "mad money" with jim cramer starts right now. 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 pmake friends, i'm trying to educate and teach you. call me at 1-800-743-cnbc or tweet me