night to get better read what appears to be ongoing reopening of the economy here at least. >> absolutely. it does seem there's marked winners and losers when it comes to consumer-facing names merchants continue to be in focus. carl, great to do the show with you today. >> it was fun as it could be given the news that does it for "closing bell." "fast money" begins now. >> live from the nasdaq, over looking new york square, tonight's trader lineup -- we're all over ukraine investors on edge, tensions escalate stocks falling we break it down straight ahead crude oil holding above $92 is $100 a barrel next what impact will that have later. home depot plunging on the back of earnings.

how our traders are playing the pull back. we start with late-breaking developments out of ukraine, you're looking live at washington where secretary of state antony blinken is holding joint news conference with the ukraine foreign minister the white house announced new sanctions against sovereign debt as joe biden calls russia's move into ukraine quote invasion. investors are on edge, finishing off with lows here, and tensions flare. the question on our mind how's it impact u.s. investors will it have impact on the fed's plans to raise rates, guy? because ultimately we understand it could involve casualties. that's always tragic but ultimately we care about what happens with the u.s. economy here >> yeah, it's great to be back, mel. listen, we're tasked with trying to fit you how the markets are going to trade and understand

collectively loss of life is tragedy. with that said, if this changes the narrative at our federal reserve we're in deeper trouble than i thought we were i don't think it should change in anyway their stead fast belief that they need to move forward and that they're behind the curve now. you could argue it slows economy i get it but the inflation they need to control that, acknowledge that, it will only get worse with the events we're seeing, will it change the course of the fed and theoretically create that put, absolutely not. >> the point he is sitting on it exacerbates the pressures if it further makeser worse the supply chain issues we hoped we'd be much beyond. we've seen data about stuff getting better in the ports and potential for at least a spike in commodities that are huge input cost for u.s. corporations or corporations globally that

they're likely to abate. all these geopolitical things can give us a season premiere of th can give a sense of the near-term impacts, the uncertainly how long they'll stick around is the issue and how it relates to the markets, okay what's the near-term effects of the wage increases and other things and look by them when it comes to valuations but wloo right now with interest rates going the way they are and fed doing what they are doing, i agree for creditability purposes they have to stay the course but valuations will continue to suffer, no changing soon. >> i find myself agreeing with dan on our mid-day call. i know about these markets, we'll get to the rest. but one thing i want to point out, i do think that the fed has definitely made it clear, we're heading down a new path, no longer easing, we're tightening, it's a question how quick we go

down that path, i think they have room to do 25, stay on the path, and their creditability will remain in tact. i think. to dan's other point about could this market have been headed for this kind of correction. >> anyway. >> anyway. it's an excellent point. it was happening before this really got going so they happen to now converge, that makes for a difficult market but i think you're right, i think this was happening anyway valuations were stretched in a market the fed were going to be raising. >> if we didn't have this geopolitical, tim, is this where with were going, pulled forward the losses we would have faced anyway >> yeah, i do. gwyneth, if you look a again, if you look at qqq nasdaq 100 you can take us to 310 and you're still holding the bottom end of enormous five-year bull market. we're talking about the fed, what does ukraine mean, i think it puts more pressure on the fed

to act so i don't think it will cause real disruptions, at least in the short to immediate yum-temporary, which is where imme medium-term which is where the fed sits. they are effectively the fourth largest kprod provider for the world commodity provider for the world. all kinds of things we use every daye i think the fed has to move faster look, we have at least 7 fed heikkinens priced into hikes priced into the f futures curve. more fed mother volatility mor more fed more volatility that's where we are i don't think the fed will do a lot different without ukraine and i hate to poo-poo the events, it's a scary time forethe world, listen to putin

speech that's ka'deem careyy stuff, he' scary stuff. he's a man of his word i think we bounce for now. >> few months ago, guy, we talked about cnbc survey about concerns going into 2022 you all correctly highlighted geopolitical as a top concern going into this year, which wasn't identified in the survey as a top concern what ultimately is the concern because russian and ukraine is one situation, the implications as it relates to china and taiwan is a whole other ball of wax. is that what you're looking at when you say geopolitical concerns how it sort of can be extrapolated to other situations >> absolutely. we talk about this in the fall this is not revisionist history, we actually did have these conversations and collectively we said look we think things are really going to get bad, get worse, sort of accelerate

post-olympics and quite frankly that's exactly what has happened if you look at the timeline. you mentioned russia-ukraine, obviously, i don't think that situation is going to abate any time soon, unfortunately, again, china/taiwan is out there, to think that won't manifest at some point is foolish to believe. i think that's what's been going on all along my concerns in the fall are exactly playing out now. what's happened? oddly enough, mel, quickly, what you will wind up seeing we talk about a weird reaction in the bond market you will see flight to quality in the form of ten-year yields going lower and two-year yields staying sub on -- stubbornly high dealing with a flattening yield curve >> and the yield curve has been a redictio predictor of recessi. had we been often

had we been on the air last week, ceos are stress testing their portfolio in the event the fed loses control over inflation and the economy heads into a recession. which i thought was interesting. of course they have to do that but. >> right. >> to actually think what they're proactively doing right now is interesting >> i actually missed that i think i was watching curling. >> of course. >> then i didn't see those comments they do that every year. but i think now it's more of a real probability than it has been we got used to credit quality that's been really good. that'sbeen good for banks. it's one of the under-pinnings i rely on right now. that would be bad if we see those things happen and then credit quality get worse clearly the two year, ten-year spread closed at 35 today down from 90 something.

we're going to see net interest margins get squeezed probably won't see that -- well, we'll see it actually during this quarter, so we'll see it. but i think that our economy is still in good enough shape and the rotation out of high flyers into low-priced stocks is still there. i want to hang on to my bid. >> i take issue with saying the economy is in good shape the economy was weakening before the pandemic and to think why the banks are stress testing now, our friends this morning weekly advisor was talking about in the modern age of financial bubbles and financial crisis the fed has hiked themselves into recessions, if you think about when they started hiking in early 2000, right, as the internet bubble was really just ready to pop, everyone knew it was going to pop, but all of a sudden after fivers of unabated sort of kind of blowing up, the fed worried about the same things, over heating

then we saw a two-year bear market same in 2006 they started hiking and worried about the financial instruments created around the bubble inflated during the housing crisis here we have trillions of stimulus that kept the economy afloat and seen risk asset bubbles, crimiypto and spacs, on and on, and everyone trying to come to market in the last year had a window to do it right before the pandemic and in 2020 seemed we were out of the woods. end of the day, of course there's going to be another recession, did they hike themselves into it, of course they did. >> isn't it good we worked off the bubble-popping in fast motion it since february last year. >> and it hasn't just been high multiple tech and companies that don't make money

look at discretionary branded apparel, lulu lemon probably on 23 eps just south of 30 times. nike probably low 30s. these companies were trading in the mid to upper 40s we've seen major froth come off. i would say to me this is really more about margin and dynamics what we're willing to pay for stocks we've been talking about home depot that's the theme of the earnings season, i don't think we're near the end of the cycle, i don't think we're about to go into a recession, i think the economy gets a war-type benefit from covid and omicron is becoming a distant memory, thank god. i think if anything we're starring at margins, at sga, at company management that aren't going to be bullish, that's the dynamic for the economic w-- equities, not run for the

hilhills. >> let's bring in julian -- great to peek with you are we in the middle of what could be down 2500 move in the s&p 500. >> you have to distinguish could you go down 15 to down 20? you could. do we think you go materially lower? we don't and the reason is, frankly, is that there really is no sign of a recession on the horizon look, a spike in oil we think actually doesn't need to go to 150. we think if you go materially over 105 tore if for any length of time you could slow the economy down significant sufficiently that's always out there. what you've seen is really a realization in last several weeks whatever the quote/unquote omicron soft patch is and i echo tim's sentiments, thank goodness it's behind us, and the economy is accelerating.

so from that perspective, yes there's concern about geopolitical, yes there's concerns about the fed, but it is not yet a head wind to the economy and it is not yet a head wind to earnings and those two are what drive stock prices higher >> julian, it's karen. thanks for being on. you and i are more sanguin on the economy. given if that were the case, economy's doing okay, what do you think the fed's actions are? more on the hawkish side >> i think you nailed it in your view a few moments ago, karen, you're going to do 25 in march you're going to make it clear you're likely to do 25 in the next meeting and the meeting after that our view is you get 6 25 basis point heights over 2022. you get the start of q2 balance sheet roll off the market knows that. it's not an uncertain for the market

frankly, to us, the fed is not going to want to go 50 and they're not going to want to react to giopolitics and go zero they're going to stay the course they don't want to cause a recession. they want the market to color within the lines to the greatest extent possible. >> hey, julian, it's tim we knew each other in another life where we focused on emerging markets and this is a global dynamic with ukraine right now. let's talk about the global and rest of the world outlook because some places do very well in this environment. one central bank in the world is actually cutting rates, may be very supportive. the e m europe or the em what do you think. >> we think about europe obviously -- if you're a russia-based investor seeing drawdowns down 40 since the peak last fall, there are reasons for that, obviously. to us, europe is a story that at

some point there is going to be a dimunition of this risk when it happens it is a global reopening story, likely acceleration, once again this looks to be the year where projections for the eurozone economy will fall short versus the u.s., but you're still going to get good growth we don't think this derails it from that perspective valuations are very supportive of europe as a value, as a late-stage cycle play. >> julian, always great to see you, thanks for your time. >> thank you. >> julian emanuel. multiple corrections sound pretty painful, dan. >> it's what we've been living with for the last year as you mentioned. >> riot. >> here's the weird part, investors are coming around to the fact, s&p 500 headline closed down 10% on the year, we haven't had 10% on the year take

out early 2020 in a long time. s&p 500 up 26%, more with dividends last year. we often say the higher we go into november, december, is probably the lower we go in january to put a button on the conversation we had from before. here's what's different now. rates are materially high erp and the yield curve that could invert is a bit of a problem i get it people say the yield curve predicted so many recessions that never happen. whatever this time it's different we have artificial growth, tons of debt and binge on risk assets in so many different parts of the -- you know, the spectrum that we've never had before crypto at $2 trillion. to me timing works this off. when you think about rates aren't going lower any time soon debt levels are not receding any time soon. if you talk about over extended valuations to be corrected will take a long time to reinflate. >> we have earnings alert on

palo alto giant is just out with earnings, let's get to cyst eena. >> lucky 13 number straight corners palo alto beat top and bottom line estimates and popping 7% after-hours tradingses, total billing climb 32% year over year and next generation products road 70% compared to last year lastly, they raised revenue guidance, key indicator for investors these are all catalyst for the stock climbing higher. cybersecurity sand hybrid work scheduled and cloud computing, of note, no mention of supply chain issues in this report as well as word of acquisitions, it's been a year since they've had one. the earnings call is going on

now. >> be sure to catch the ceo of palo alto on "mad money" tonight at 6:00 p.m. eastern as the beat, more importantly, they raise the guidance, guy we don't always get that from companies. >> no but we're getting it from them which is a good thing, this is a name we've talked about for seemingly years, ran into trouble with other high valuation stocks that traded to 575 but people said it doesn't make sense 465 level we just held is where we broke out from in august. that's a good thing. they got to earn $7.30 this year. if you give them $8 this year even with that they will trade close to 55 times next year very expensive stock it's best in breed i think you stay long the stock in my opinion against 465 recent low. >> there's allot of talk about cyber attacks on businesses particularly with the

russian-ukraine situation and argument that spending on defense and cyber defense will increase in a meaningful way as tensions flare. >> no question i will tab this guy's palo alto, been talking about it forever. this is a 25% spend on cyber growth nor the foreseeable future throw in network, cloud, ops and the story will give you the top-line growth. it's not cheap performed remarkably, hearoically when you think about what higher multiple stocks have done in last three or four months, down 15% at this print, i think you have to stay long. >> yeah, here's the thing, in this environment, trading nine times sales see if we can hold 7% gain on gap basis the company still loses money. we did it a year ago i'd say have at it but last week in

innvidia has great numbers and still off 10% in the next two days so i wouldn't be chasing moves in this environment after-hours earnings >> so no have at it. just so we're clear. >> coming up, we're drilling down on energy market, oil prices on the rise as russian-ukraine escalates. where are we headed next and meepot tanks, how traders will play this one when "fast money" returns you need to hire. i need indeed. indeed you do. indeed instant match instantly delivers quality candidates matching your job description. visit indeed.com/hire

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welcome back to "fast money. home depot a real buzzkill today, shares dropping despite earnings beat, growing 11% in the fourth quarter home depot predicting continued growth sales ahead of the stock dropping now down 24% this year. this seems to be a case, guy, of things going back to normal. >> yeah, i mean, finally valuation caught up to home depot. that's the only explanation i have the technicals weren't great in december short-term double tops around 420 obviously didn't help and then valuations became a concern for everybody, that didn't help.

i got to tell you something, if you told me these numbers ahead of the report i would have been long the stock all day and they said they will earn close to $200 billion in revenue in the future 30% revenue growth in next couple years, in my opinion that's extraordinary valuation is a concern where do you buy if you go back to june of last year it stopped and rallied from 305, i think that's the line in the sand and given the way things are trading it probably gets there >> karen, is this home depot story or bigger tell on housing or the consumer? >> i'm not sure if it is one thing i think is lost in the home depot story is the ceo said anything we can get on the shelves we can sell. to the extent they had supply constraints that was really a problem. so, that, i think, wasn't really given enough so to me that's sort of, okay, sales, maybe are denied or delayed, not sure which, but the customer still has desire to buy. that's interesting to me

i guess too expensive. i'm long that. i'm long lowe's. i think the story is in tact although i think the housing market will cool with rates being ohioer -- ohioer. last higher last week we talked about home builders and as housing prices are higher people are not going to afford to buy new houses but redo the old house, that's the advantage for home depot and lowe's it was just too expensive and now below the medium pe over the last few years it's now lucie now long >> tim, what have you to say >> i can't wait to get back to the studio it's not expensive, not even be close to expensive karen just said that that's not what i heard from everybody. i just think you have a case here, first of all, if you go back to previous rate hike cycles and take home depot to where it traded down to, say,

and really even like recession cycle, so 2000 maybe a little bit 2018, this is at 18 times at its trough trades at a discount now to the s&p. usually trades at one 0r two times. i know it's easy to push this back on multiple it's not expensive anything they gave you a sense where their pro business is growing and where they see the u.s. and sales komatsuna -- >> i will say this this move is really important. last year lows from early march to high december the stock gained 70% i skravped my head i scratched my head like a dummy this is insane it is off 30-something percent from the highs and stock rarely

changes this cheap expected growth is low single digits but focus on the names that were infallibles. >> as tells. >> as tells, yeah, that's what is really important. just so you know, is coming to a theater near you, apple and other names that haven't broken yet because the market is not not going to bottom until it is irrational about the most loved long-temporary stories, in my opinion. >> is coming to a theater near you when it comes to an apple. >> having not been to a theater in a while, hard to answer that. i think, to dan's point, this will culminate when names like apple capitulate. >> right. >> excellent point it's not like apple doesn't sell off it has had five to six peak to trough declines in the last few years. it could happen. i agree with tim, now home depot is cheap, my point earlier was

when it was at its zeen in-- zenith in december was a stock people talked about in terms of valuation then >> here's what's coming up next on "fast money.." >> ohio energy, oi high energy, oil market rajons on rages on top analyst next the traders are breaking it all down you're watching "fast money" live from the nasdaq market site in time square we're back right after this.

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follow the latest developments out of ukraine the energy market front and center, crude oil moving higher today as tensions flare with russia paul sankey with us, last time i talked with you it was early in this skirmish, potential invasion, we saw oil prices spike bi basically and you sounded skeptical about the whole thing. what do you make of the situation now? what do you make of the spike in oil as a result of it? >> i think that we see maybe a trading opportunity here to short isle, actually short oil, actually. short oil for commodity. next thing that happens is you get an iranian nuclear deal. when you look at putin, you can predict it that you could see it's not really an invasion but

affirming circles separatists, if you look amount the map it's east of ukraine. one victory he will declare tomorrow it's a major army day in russia. we'll see what happens with that as you know the response has been pretty lame from the west and essentially it looks like there's no interest in our view to go to kyiv and beyond that's going to be a disaster, that's where they will actually fight but for this bit it's in line with what we thought would happen and we thought oil was moving from 80 to 120 range, now whatever we're at, 95 a barrel i think if we get an iranian deal which is likely what the administration is working on as a big response here you could easily see oil trade off a few dollars. >> paul, you've been spot-on with all of this, last time you mentioned marathon petroleum at

$67 and thought it could get to 85 and it got close. i'm with you often this, buy the r ruleor, sell the news. of -- >> this is a call when we get the news of the iranian deal the wall street journal said it will be within a couple days, actually we'd be looking immediately to buy straight back in as you know, the big story here, to what you're saying about home depot and u.s. plays is u.s. story is unlike anything i've ever seen, it's so strong, we're at all-time record highs, we're growing by all-time record increments you want to be long-oil stocks that's for sure. that's where we will start the trajectory back to wednesday we're talking about. >> in terms of the shorter term call, paul, if you're inclined to short oil the commodity would

the commensurate call to be short energy equities? >> no i noticed today equities had a bad day, another buying opportunity and another good result diamond back, fang stock we love had good results i was long trade fang diamond back and short fang, you know the tech stocks it's been huge and things are going great couple more to report here oc c i -- the bottom 25 cheapest stocks in the s&p 500 six of them are oils, not oils you haven't heard about. conoco phillips, devin and diamond back really huge plays and assets and it's $95 a barrel and bullish. the equities are great a cute trade to make money by next friday, a hero trade for a

short sell. >> paul, always good to see you, thanks. >> thanks a lot. >> paul sankey of sankey research tim, what do you make of paul's call >> acute, i guess means short-term >> i guess in british. >> yes yes. we love l listening to paul andi think his point on iran is interesting. the names conoco and occi no ties to russia it's great for them when you look at energy relative to the energy price they're actually outperforming in the last six weeks, something we haven't seen i think it gets back to investment over trade or cute. iot. it is also a great time for chemical companies, dow, line dell, businissel l and other trs

not just straight into the energy trade >> guy >> my point when i said cute you can sometimes get too clever outsmart yourself. i think he is spot on when you can short the commodity for 5 or $7 pull back but it will go ohioer, stay long -- higher, stay long -- >> yep cramer has a news investors club, sign up on the screen. coming up al ibaba fall out and macy's we breaking ball it down next, "fast money" back in two. >> announcer: get your trades to go with the "fast money" 30d c podcast. catch uans y time anywhere. follow today on your favorite

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welcome back to "fast money. macy's making a big reversusal after earnings this mornings closing 5% lower beating top and bottom line beat focussing on the

customer was the ticket to withstanding inflation. >> we do expect inflation and what we're always focused on is the customer is the winner here. we want to make sure we respond to all of the customer needs and we've got lots of opportunities to improve on our margins because of all of our data science that we're deploying now versus where we used to be we're buying less, sourcing better, using the customer data, using personalization, marketing down better. >> macy's also rejecting a call from activist firm jana partners shares down 20% since the company's last earnings report in november. what do make of this karen >> interesting how the stock traded, right? it was a really good quarter, you know, they seemed confident. one thing interesting to me, macy's debt was upgraded, this has come full circle on the balance sheet and they increased

the dividend, and they've announced a buy-back this is a very different macy's than it was two years ago, even pre-and it was in trouble. so good for them i think with this momentum they've got they probably have some ability to reject that plan they don't want to, i don't know how much jan is going to turn up the heat, they're skilled activist but i think he bought himself time >> they cited cost and risk of execution. tip, what do you think of how it traded >> right and on the screen it said bargain or bummer definitely not a bummer. bargain is stuff to say, i thought the guy was quite mild as i said pressure from sga, labor cost, some things but looking at the core business up 27.5% or so on sales, remarkable, but even on a

two-year stack up 6.5% look the whole activist angle certainly had been a driver coupled with macy's strong numbers last quarter but macy's turnaround is macy's turn around and i think bargain is a better call when you are inside six times eps and 4 times ebitda i like the story i have owned it. i think this pull back is interesting. >> if you're in macy's as a turn around place is that turn around done, are you out? >> maybe here's the thing, couple years prix-pandemic i'd say lights out on the department stores but the ceo's talking about data science and keeping up with competing trends and adopted different things, i think you should be happy the debt rating was raised they have a lot of debt relative to the equity market cap, and story i don't know where it went, remember they were saying

it was trading cheaper than real estate >> yeah. >> i don't know why you would fin off the online thing i assume the data science is important with logistics and everything if it turns around and is cheap it will have to rely on the brand and ability to grow that maybe we're in a new world order as it relates to retail, i don't know, but to your point you got the valuation on your side they can accelerate sells -- they are back at pre-and sales levels and street expects to be flat for a long time so better increase margins >> coming up, russian-ukraine rehe"fh s, i real real and muc mo wn ast money" returns

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ceo caleb great to see you. >> thanks for having me. >> the survey you found investors are buying the dip >> yeah they're fearful, a little bit anxious, rattled but looking for opportunity. it's pretty consistent what we've seen the past two years. we started in february 2020 before this was declared a pandemic about two years exactly. so worried and playing it safer with etf and index funds looking for opportunities to buy the dip when they can and looking for it on some big stocks they owned for past two years, melissa. >> are you getting the sense it is the same investor in things like ar k e t f and there's i change in mentality. >> yeah but they like the big etf and index funds and experiments with ark and other investors and told us with even cryptocurrencies, these are self-guided investors and do

their own research fearful of inflation, rising geopolitical, rising interest rates, so they experiment a lot but are core investors and stick to the large cap when they can. >> hey, it's tim what are these core investors excited about? i hear what you're saying, they are going back to basics on core companies that have pulled back, anything they're excited about out there? it does seem the sentiment is awful >> yeah, you know what we find, whenever there's a lot of anxiety we have a good handful of readers looking for opportunities to play oil, to play the inverse of the s&p 500, betting on future declines, looking for opportunities to trade where the damage has been done the most. that's not very different from what we've been seeing the past two years. of course they're fearful had like the rest of us but whenever there's fear out there we find a good handful of our readers looking to buy the dip on particular gordon stocks and paa

sectors hit hardest. >> there are bubbles, i thought interesting 33% bitcoin, 30% nft. 20% nasdaq and across the board. >> yeah across the assets of course bitcoin and nft and doge on the list of biggest bubbles u.s. real estate on the list, makes sense, even after the tumble of the risky assets they feel bubbly out there, like there's a lot of 23rfroth and or past two years were buying crypto some adding crypto for the first time ever, and learned how volatile those assets could be they think they're the biggest bubble out there also in e vrks stocks, you mentioned nasdaq after the fall folks are feeling the frothyness

even though they are willing to buy the dips when they appear. >> spacs up there too. caleb silver, investor media it's a good sign investors are getting back in for the long-term. >> i'd say so, i say buy when there's blood on the streets i didn't buy anything today but a lot of things i'm looking to buy, very little i'm looking to system many ter -- sell talk about momentum, it keeps going until it is well below value and i don't know if we're at fair value with the high flyers so that is not for me. >> i'm not sure it's so great they're getting back in right here. if you think back to last time fed was hiking rates in 2010, when ten year topped 3% and here we are at 2%, s&p 500 sold off 20% in what felt like a straight line in two and half months, so we're down 10% right now. since then, think of how many

hundreds of stocks, very unprofitable companies have come to market vaccine umpire to market and vacuumed up investor markets do it in crypto, in spacs. so a lot of the capital on the sideline waiting to buy the dip is gone now we have inflation -- >> let me push back. >> okay. >> it's not just one giant market where everything was a high flying 80 or price to sell was the metric to use, it's a whole different market of different things and i think. a lot in the value section left for dead and boring and not interesting for years that is attractive now >> are they things that have been outperforming as the market is getting volatile, staples and energy and financials, and stuff, so they rotated and hundreds of stocks just evaporated investor cash. >> yeah just because it rallied some -- >> -- here's the one thing we

know, in the last few times we talked about it, when market topped in 2000 took two years to bottom out and same in 20007, the lows and marches in march or april 2009 we are really are at an inflection point with higher debt levels than we've had and fed and central banks around the world with much fewer tools in the tool box i don't think it makes sense to buy the first dip. especially when we think about 2018, where was the fed balance sheet relative to rates? just in a different place now, man, so i think sometimes sentiment overshot to the upside clearly last year and might do so to the down side so be careful with the s&p >> i think that is all true but we've already had a gigantic move in some stuff. >> not in the s&p and not in the nasdaq when you think about it. >> we need a split screen here. >> i love this you come back first day back and you fight. that's why we're back here, right to have this robust

conversation, we even got a "man" out of dan coming up shares of alibaba in the red but options traders say could see green thursday when "fast money" returns. (swords clashing) -had enough? -no... arthritis.

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welcome back to "fast money. alibaba dipping deep into the red as china cracks down even further on big tech. baba with earnings before the bell on thursday mike >> yeah we saw big moves but the options market expecting bigger ones by the end of the week right now implying 9%, we did see calls outpacing puts today's. february 1-15 calls 8,000 trading for $4.10 buyers betting the stock is so bad it's good. >> for more "options action", tune in friday at 5:30 eastern. up next, final trades. i'm searching for info on options trading, and look, it feels like i'm just wasting time. that's why td ameritrade designed a first-of-its-kind, personalized education center. oh. their award-winning content is tailored to fit

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>> yeah, short hyg if credit markets get ugly this will go down. >> dan nathan. >> i like sankey's hero trade my hero is sell s l e. >> thanks for watching "fast money. see you tomorrow at "fast money. "mad money" with jim cramer starts now 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 promise to help you find it. "mad money" starts now hey, i'm cramer. welcome to "mad money. welcome to cramerica other people want to make friends. i'm just trying to save money. my job is not just to entertain but to educate and to teach. so call me at 1-800-743-cnbc or tweet me at #madtweets these weekend traders that were going nuts, they just can't help