guys, back over to you >> jewelia, thank you. julia boorstin, thank you. >>> let's switch to fedex gearing up to report its latest quarterlies next week.

guys, back over to you >> jewelia, thank you.n, thank you. >>> let's switch to fedex gearing up to report its latest quarterlies next week. if you are betting the company will deliver on its results, mike khouw is laying out a cheap way to play the stock for about, we call it his call to action. mike, it's yours >> for the call to action, a call spread risk reversal. a strategy we like in situations like this one. we have a catalyst earnings we have a fed decision and trade issues going on. plenty of things that could affect the stock here. the options premiums are relatively elevated. we are selling more options than we're buying and then we're looking at fedex. it's experienced more than a 15% bounce off the bottom in the last couple of weeks the trade structure i was looking at was the january 160, 180200 call spread sell the 1.60 puts at 6.25 sell the 200 calls for 3 bucks net/net you're laying out no premium and if the stock goes higher or experience some delay, you'll see profits in that case, the worst case would be if fed