mike coe joins us with the details. mike. >> yes. quite a lot of options activity in both of these names today. target, which normally moves about 2.9%, the day after earnings, is implying a move of about 5% by the end of the week. walmart, which is usually somewhat more muted, normally moving about 2.6%, implying a move of 3.25%. these are not names well-favored by the street, but options markets basically implying there might be some up side. one of the larger trades we saw today, somebody rolling a large bullet. november 71 calls out to the january 72.5 calls in walmart, paying just under $1.10 for those. bets walmart is above by january expectations. we saw bullish bets in target, as well with put-selling out in april. >> thank you, mike coe from austin. for more "options action"s, 5:30 p.m. friday. grasso? >> i have a problem with walmart, benefitting from the sell pressure on amazon. if you believe amazon is moving higher, walmart will come in. i would rather be a buyer of target. it's only flat on year. >> expanding within the

mike coe joins us in austin with a vix road map. mike. >> yeah, i think it really is. because, of course, most people who follow the vix realize that the vix index will tend to drop as stocks rise and the vix will go much higher. we can take a look at that and in situations like the one we have had, where we have very low volatility, the market is trading at all-time highs, the vix is very low. what's that telling you is the cost of insuring your portfolio is actually quite cheap. and the thing is, not only are you buying inexpensive insurance, but when stocks are elevated. when we look, we can see if the vix is above 18, you probably want to be a better seller of options than a buyer of them. between 13 and 18, kind of a no man's land, and we may be migrating from one regime to another. below 13, this surabaya usually is a pretty good time. stock prices high, insurance costs very low. and that is really the time you want to be thinking about getting some insurance. >> all right. thanks a lot for that, mike. mike coe in austin. for more "options action," check out the

mike coe joins us with the action. >> so xrt, the retail etf, as you pointed out, had quite a rally,% for the month. quite volatile over the last three. interestingly, even as the volatility in the etf hasn't -- has increased substantially, the price of the options hasn't so much. and one of the institutional traders have taken advantage of that. six times the average daily put volume of the january 45, 42 put spread. they paid 65 cents for that. that's a bet the etf could decline anywhere from 3 to 9% by january expiration. that makes a lot of sense, because it turns out this etf has underperformed the s&p during the holiday shopping season seven of the last ten years. by an average of about 1%. so taking advantage of the fact options prices aren't up and this is a seasonally weak period for the space, interesting and cheap way to make a bearish bet here. >> mike coe. check out the full show 5:30 eastern time friday. >>> still ahead, more americans are getting high. and according to a top analyst, that is dragging down the beer business. we'll hear from the analysts and give you the

. >> mike coe. thank you, mike. >> thanks, mike. >>> full slow "options action"s, 5:30 p.m.ime. >> 5.5% move in the stocks. what does that make it, a $7 move. a $7 move on the down side gets you 122.5. you get 122.5, the highs we saw in may. if it gets there, you buy with both hands. good job on the math by me. >> you've got to love the ecosystem. the only problem right now, it's off the 52-week high. what does that look like? it looks like apple going into earnings. everything went right. even if things are great, if the numbers are phenomenal, which they should be, the election and all the other things going on, i think you could be hesitant and wait until a guy gets down to that 122.5. >> if mike math is right. >> work from the nest. >>> alibaba in the spotlight tomorrow. the e-commerce giant making a bet on china's hollywood ambitions. julia boorstin in l.a. with the story. >> a couple weeks ago, chinese internet giant, abee baba, bought a stake in steven spielberg through its alibaba pictures. today the companies came to the u.s. china film summit to talk about why they

mike coe. options action friday 5:30 p.m. eastern time. all right.ead, steve grasso tells you the stock he is buying that will be a winner regardless of who wins the election next week. more "fast money" straight ahead. [pony neighing] what? hey gary. oh. what's with the dog-sized horse? i'm crazy stressed trying to figure out this complex trade so i brought in my comfort pony, warren, to help me deal. isn't that right warren? well, you could get support from thinkorswim's in-app chat. it lets you chat and share your screen directly with a live person right from the app, so you don't need a comfort pony. oh, so what about my motivational meerkat? in-app chat on thinkorswim. only at td ameritrade. ♪ ♪ see ya next year. this season, start a new tradition. experience the power of infiniti now, with leases starting at $319 a month. infiniti. empower the drive. this car is traveling over 200 miles per hour. to win, every millisecond matters. both on the track and thousands of miles away. with the help of at&t, red bull racing can share critical informatio

mike coe in austin. >>> we've got a news alert here on some of the biggest investors.ssa, interesting news out of berkshire hath away where investors and possibly warren buffett himself or perhaps one of his stock-picking lieutenants have loaded up on major airline stocks, starting with a huge position in american airlines up nearly 22 million shares. berkshire also bought delta and united airlines in size during the quarter as well as and this was breaking news from our own becky quick, a position in southwest more recently than that. buffett wouldn't explain the reasoning behind the move, which is notable in terms of his long-time criticism of the sector. david tepper purchased over 4 million shares of bank of america as well as big positions in apple, facebook and yahoo!. a number of major tech names there. he also bought 2.5 million spdr puts. it is much larger than his 22,000 ownership in the spdr itself. he hasn't returned my message to figure out what that means in the context of his portfolio. he bought delta but sold 3 million shares of southwest leaving just

. >> mike coe saying the implied move in the options was probably a 5.5, $6 move, and we saw after hours -- >> percent or dollar? >> dollars. the percentage move -- whatever it was. >> the same, actually. >> with that said, i think it's at levels where it gets interesting again. i think -- if you look at the operating margins, 59%, is their growth slowing down? by definition i guess it has to. they will be able to pull, i believe, going forward. not least of which is this whole virtual reality thing, which they are at the forefront. >> when you go back and look at the history of technology and when some of these new platforms move geographically, you know this. we have seen this with mobile hand sets and that's when you get this splut absolute explosion. >> let's go to live tv. live video. >> right. and the ad market there. >> live tv is going to be huge for them. or live video, excuse me. when you think about it, what is the growth opportunity in china? not great. what is the opportunity in india where mobile penetration is really low, at least on broadband. they need to squeeze out som

donald trump and mike pence arrived a short time ago in bedminister, new jersey, for another round of meetings. the next announcement could coeay. joining me now is pastor mark burns. pastor, thanks for being with us today. >> happy to be here. >> i want to ask you first to get your reaction to the comments from ben jealous. do these two appointments undermine president-elect trump's ability to be president for every american? >> absolutely not. again, i think donald trump or president-elect trump's selection of sessions -- senator sessions as attorney general and steve bannon who i know personally both of them, i have nothing but high praises for the both of them and my personal reaction as great americans and great patriots. i think this simply proves to america that this false notion that donald trump is going to be this loose cannon and the whole country and the world need to be afraid if he is elects, he is putting those to rest. he is selecting and drawing close to him men and women who are highly qualified at their area of expertise that's going to help him make the best decisions to govern all of us, our entire countr