some people have taken some profits, others i suspect are hedging them fxi, one of the biggest tradesk actually was a purchase of 43,000 of the april 28th puts buyer paying just 40 cents for those. theying a small amount but they have time to expiration and those will be profitable even if it doesn't blow through that strike in the near term >> brian, your thoughts on where it goes, down or do you stay long and hedge >> well, if i had to give a star rating on emerging markets in general, i'd probably give them about a four out of five and play a little bit to the upside. we highlighted a couple trades where they were playing to the upside right about to this level. so not unusual that this market is totally flipped so i could see a correction come here 5% or 10% back to the down side and something like fxi where people take profit i'd limit my exposure. >> and another etf is home construction carter, do you also see this reversing course >> we have a tale of two stories here we've got dedicated home builders continuing higher but the big sort of related stocks, like home depot, lowes,

i will say that we've seen a lot of bullish activity in fxi, in the a shares, in k web in prior weekslatter two, we saw a lot of activity this week. we don't buy foreign etfs for our fund we do buy single stocks in the form of adrs and so on, and jd is one of the ones we own. >>> up next, a look back triple threat. updates on three past trades and how to manage thosnas ine megog forward. "options action" back in two >> announcer: "options action" is sponsored by think or swim by td ameritrade. >>> welcome back to "options action." time for some updates on past trades first up, mike's p & g trade from last week since then, p & g has dropped about 5%, putting that trade in the green. what are you doing now >> this is the kind of move we were targeting precisely we had the catalyst. it's come and went actually there's not that much profit left potentially in the trade now. so we just take profits happily. >> let's get to the airlines here dan over here laying out a trade on the jets etf just a few days back on "fast money. so, dan? >> this is what was interesting. we had scott kirby, the

yeah, we have been seeing these call spreads trade quite frequently any time there's a pullback in fxims like somebody buys the call spreads so it's interesting they play this some resistance around the 33, 34 level, so it makes sense it's a call spread and you're capping your upside. maybe this is just a cheap way to play the upside if that momentum continues that way. >> all right, well, as much as we appreciate guy adami gracing us with his presence, we all miss carter braxton worth. he says he is indeed sorry he couldn't make it tonight he was one of the many caught in this week's storm travel mess. he does send wishes. happy new year, team see you next week on set here's to a prosperous 2023. he also sent a postcard trade from the road, highlighting gold bullion when it was all but proclaimed dead as a hedge by crypto crowd and others. just the last half hour, you did say gold, guy. >> i'm sorry he got caught up in the mall strom of u.s. travel. buying the physical metal and couple that with central banks, pushing alarm buttons in terms of currency and bond markets i think that le

i will say that we've seen a lot of bullish activity in fxi, in the a shares, in k web in prior weeksbut those latter two, we saw a lot of activity this week. we don't buy foreign etfs for our fund we do buy single stocks in the form of adrs and so on, and jd is one of the ones we own. >>> up next, a look back triple threat. updates on three past trades and how to manage those names going forward. "options action" back in two thinkorswim® by td ameritrade is more than a trading platform. it's an entire trading experience. with innovation that lets you customize interfaces, charts and orders to your style of trading. personalized education to expand your perspective. and a dedicated trade desk of expert-level support. that will push you to be even better. and just might change how you trade—forever. because once you experience thinkorswim® by td ameritrade ♪♪♪ there's no going back. >>> welcome back to "options action." time for some updates on past trades first up, mike's p&g trade from last week since then p&g has dropped about 5%, putting that trade in the green. what are you doing

i will say that we've seen a lot of bullish activity in fxi, in the a shares, in k web in prior weeksthose latter two, we saw a lot of activity this week. we don't buy foreign etfs for our fund we do buy single stocks in the form of adrs and so on, and jd is one of the ones we own. >>> up next, a look back triple threat. updates on three past trades and how to manage those names going forward. "options action" back in two >> announcer: "options action" is sponsored by think or swim by td ameritrade. realtor.com (in a whisper) if we use kevin's college fund, we can afford this house. the house whisperer! this house says use realtor.com to find options within your budget. good luck young man. realtor.com to each their home. realtor.com (in a whisper) can we even afford this house? maybe jacob can finally get a job. the house whisperer! this house says use realtor.com to see homes in your budget. you're staying in school, jacob! realtor.com. to each their home. thinkorswim® by td ameritrade is more than a trading platform. it's an entire trading experience. with innovation that lets you

the fxi, up 14% this year. trading at nine times earnings that's a discount to the nasdaq. the evercore expects china to outperform they bet on the earnings in china to outperform compared to the use. alibaba is the biggest constituent, up about 90% from the 52-week low hit back in october of last year s >> these are incredible runs you wonder if we're going no a global recession you know, maybe china holds and we have a better cushion any data on the reopenings >> holiday spending and travel data over the last week of lunar new year is holding up well. the number of national domestic visitors increased to 89% of pre-pandemic levels. movie box office revenue reached the second highest on record there are different data points which suggests the consumer is getting out there and spending >> it justifies the rally. arguably the markets are a little bit ahead of this i wonder now if we've gotten too excited about it >> it's euphoria if you look at the big gains over the last four weeks. that's why the earnings season will provide a much-needed reality check, not just for these

thing that ratchets it up oy just don't find it that compelling guy had a great call even i bought some fxid in trading it anymore, and certainly not investing in chinese companies, especially when our companies, many of the same ilk, our companies are not able to com compete for their consumers over there. >> karen >> my gut answer is to fade it, but looking at my portfolio, i'm long a bunch of things that do have exposure. things like apple, you know, like capri, that's a big marked for them what was the last one? louis vuitton, also a big mart for them i'm there. >>> let's go to carter worth would you trade or fade china? >> here fairly short-term trade are on the month, week over week, anything that's rallied this month, you write calls, take some measures if you're thinking long term, i'm not hedging. i just put out a note, for anyone long and steady, running big money, big mutual fund complex, only because it's rallied this mvp, much -- the october 24th low here we are, just weeks, a few months later so it really is who you are in the market the term "uninvestable" moren put that out

stephanie link, start us off >> the fxi, china reopening, consumer confidence returning and gdp bottomingng screen, glw, that's corning. if it gets a pullback into the low 30s, you want to be a buyer there. >> you've been looking at that for a while? >> yeah. >> josh brown, downtown -- do they still call you downtown josh brown >> everybody does. >> nexterra energy, nee, this stock has been green all day it's so close to a breakout. i think $90 is the trigger it struggled in that area a couple of times, but the more times it attempts, the more likely you're going to finally get that move higher i would keep an eye on this name >> all right so we're going to keep our eye on the markets for sure. dow is now down about 380. goldman obviously a big weight there. we'll see how things finish up when i see you in o.t. the s"the exchange" is now. >> reporter: thank you, scott. i'm melissa lee in for kelly evans today. here's what's ahead. big banks back in the spotlight with morgan stanley and goldman sachs reporting. the stocks taking off in opposite directions. goldman seeing its biggest miss i

fxi, this is january 12th, you pointed this out.sh call spread s this something our viewers should, still consider getting involved in? >> yes, sir. i believe so. i'm in that, charles, so in other words my money is where my mouth is on this trade. i think we're going to see the china reopening story lift significantly. a lot of china equities, the fact that today is one day out of many. that some of the equities are getting hit. i still think it has a lot more upside than downside. so if i had to bet on china, i'm a china bull in the short term. >> today you point out the bullish combo trade that caught your eye. tell us about this, 20,000, fed 405 at $6.95. 395 puts at 6.31. this is bullish combo on the s&p, the spydrs. >> yeah, the spydrs look like people want to buy on any dip. i'm not surpised, i'm sure you're not either, charles that people are willing to buy because every time the market gets hit, it seems it jumps right back up. so you might -- i think you're going to be rewarded for a little bit of patience. charles: right.

not just china, emerging markets, eem in china, the fxi and kweb most definitely.ut there is a caveat, that government there is insane. they crush their own businesses over the last year. they destroyed their education companies. they went down 90 some odd%. just in the last two weeks they hit on symbol fut, one of the brokerages went from 60, to 37, making nice, nice again. just recognize you can wake up the morning the dude running the joint over there goes crazy again, they smoke the stocks again. definitely on my watch list, definite institutuional money flows to baba, baidu and other names. charles: the fact that they green lit funding for ant might mean even president xi knows he can push things a little bit too far. maybe dictators have their limits. happy new year, gary. >> charles, that started the bear market for china they went let ant go public from alibaba. maybe that is a good turn. charles: see you soon. we have strategist victoria fernandez. you've been concerned about valuations. i pulled this up for the audience. the median p-e ratio on the day th

damien: fxi, the china etf everyone is buying hand over fist is up 11% this year alone after being off volumes, it does not take a lot to move the needle. that has been a big macro. i'm not a believer in it. jonathan: i think you touched on something that slipped under the radar as you joked about whether that -- where to that three handle come from. a lot of people thought whatever. they will tell us whatever they do want china gdp to be. i'm willing to look through whatever the data looks like for the next couple of months. i expect the data to get better. that is the view of most investors right now. how much better do you think that's going to get? do you think it last very long? damien: the real data points are the credit markets. you have a look at the the china banks. they will not make their capital. they are threating to not make their capital call. there are all these defaults. if you look at country garden bonds, they are up 30% to 40% this year alone. it's been a moonshot for all of these high-risk, high volatile assets on late volume. tom: was it a pure and simple bailout