on the desk tonight, carter worth, mike khouw and bonawyn joins us carter, what are you looking at? >> right, so to your point, sort of a dull week for energy share, the sector, but of course it's the only one that's had a really good year, right, up some 45%. let's look at a few charts and figure it out together the first is a relative strength line or ratio. it's the performance of energy versus the s&p and what we know of course is that energy, having underperformed badly in 2018, 2019, 20'20 has had a big 2021 d 2022 it's all the hallmarks of a bearish to bullish reversal. and i think there's more to go now let's look at energy it ever is next is a five-year chart. it matches the actual sector from standard and poor's and we are able to break out to new highs. we fell back to trend, and now we're re-approaching the highs and finally, make, again, new highs. and then the here and now chart. this is xle again. and what we know is through a very well-defined minor uptrend in effect since the june-july lull, and we've bounced off that trend line well, repeatedly, and to higmy eye, w

mike khouw, tune into "options action" at 5:30 p.m.time and what cathie wood has to say about the next steps in the ev rate and throughout hispanic heritage month we're celebrating. here is one of our cnbc executive producers. >> being a hispanic migrant has shaped everything i've gone to get where i am now my parents boarded a plate from argentina with two daughter and two suitcases to give us opportunities we may not have had otherwise. it was bold and occourageous if my mom could be a doctor in a new language and there is nothing i can't do and i don't give up and i never shy away especially from challenges embrace your story and use it to drive you. ♪♪ ♪♪ ♪♪ be ready for any market with a liquid etf. get in and out with dia. >>> welcome back to "fast money. shares of tesla topping the tape today. closing up 2.5% higher getting a boost after cathie wood doubled down on her rosie out look for the stock here is what she said to say on "squawk box" this morning. >> we're pretty excited about the next five years. i think this year there

melissa lee, and this is "options action" live from the nasdaq market site we have carter worth, mike khouw and our guest. the chart master here to lay out where one hard-hit name in the sector is heading from here. carter, what is the chart telling you? >> sir, ure, we're going to loo capital one. the big news this week was two-year yields and ten-year yields, after showing quite a bit of life faltered and basically, lower yield the is not good for financials in principle. but we're seeing this in the reports of the big banks, long-range is starting to tick up as they get ready for quality deteriorating in the loans they have let's look at capital one, which is not a high-quality, if you will, lender just a few simple charts we know this this was a huge winner off its covid lows $38 on the low and hit 178 now down some 43%, it's exactly a 50% retracement. but does that mean it holds? no, i don't think it does. the second chart, same time frame shows or annotates it's finding support, but it's not likely to hold let's drill down more immediately. the chart is just the chart of capital one i

mike khouw, what's your "final call"? >> dennis was suggesting a protective collar. a bad play. if you're thinking about making long bets you don't have to do so in a linear fashion by calls and stock. >> that does it for us cnbc special markets in turmoil starts right now. >> this is a paid advertisement for csn. >> you know, the world's kind of upside down right now. at least from a metals standpoint. well, from a lot of standpoints, but metals. we are in, you know, kind of uneasy times -- i guess that's the best way to put it -- in so many different ways. and usually in these times, times of whatever, you have gold and silver has absolutely, positively skyrockete

insurance policy and examine why gold isn't behaving as it should yet joining me, carter worth mike khouw and special appearance by dennis before we get to tonight's trade, let's triage the markets. carter, what's your take on the action >> i think there's a lot of hope that somehow because we're back to the june low that we'll hold, and yet we know that the s&p is one index, but major indices from the new york stock exchange composite to european borises have all undercut their june lows so as junk paper, i think we go lower. >> yeah. mike, what's your -- we've seen some pretty extraordinary moves across asset classes how do you piece this all together >> i think the real driver here of course is concerns about rates. and if you're thinking about what could happen to equities. you have to think about what's going to happen to rates first now, a lot of people are making a big fuss and say, just over 4%, say two-year rates are high and the fed is stepping on the brakes the fed is not stepping on the brakes let's be very clear about this from 1998 to 2008 the two-year rate average about 4%,

mike khouw, thank you. >>> coming up, one activist investor calling for a time-out.hould remain on disney's team. that pivot and play is next. >>> welcome back here's a sneak peek at the cramer cam he's speaking with the ceo of expedia on a special "mad money" from the seattle space needle. >>> let's talk disney. dan lobe doing an about-face let's get to julia boorstin for more on the story. >> well, melissa, this is a win for disney's ceo bob chapek. he seems to be get dan loeb on board. this is a rejection of loeb's call to spin off espn, part of a series of requests he made after he disclosed a $1 billion stake in the company in august he responded, tweet ago link to chapek's comments. he said we have a better understanding of the stand-alone business and another vertical for disney to reach a -- we look forward to see mr. pataro, espn's president, execute on the growth now to the proposal that they accelerate the timetable for the remaining stake in hulu from comcast, chapek say it's possible and they are considering folding hulu more into disney plus of course,

mike khouw with the action what do you see?nearly four times their average daily call volume today. that high number the result of activity on the 46 strike calls expiring in october. those expire on october 21st, which i point out because that's probably when we're going to be expecting this company to report their third quarter earnings over 55,000 of those traded for about 31 cents buyers of those calls will be making quite a bullish bet given the stock's 39 price as of today's close. right now those premiums are also suggesting pretty big moves in general if you happen to own the stock or are thinking about it, maybe call spreads would be a better way to play it in my view. >> got it. let's trade it. >> been long for a long time we refer to schlumberger as a technology company they're the most innovative company. they just deal with code nine, they have an enterprise data system utilized by the company this is cash flow accretive. i talk about this all the time for the gas and oil sec sector there is only one way which dril

report before the bell tomorrow option traders are betting it could spell trouble for the sector mike khouw it. >> the result of the 49 puts over 3,000 of those traded for just under 90 cents. that continues on the bearish name after we saw 23,000 november put spreads trade as rates have gone higher so have the interest if puts on xhp which has more than quintupled since march. >> for more "options action" tune in friday at 5:30 coming up jackpot trading. does the group still have lady luck by their side and the traders are placing their bet traders are placing their bet when "fast money" returns. when traders tell us how to make thinkorswim® even better, 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. because platforms this innovative aren't just made for traders -they're made by them. thinkorswim® by td ameritrade ♪♪ ♪♪ ♪♪ be ready for any market with a liquid etf. get in and out with dia. as a business owner, be your bottom line ist a

after an analyst downgrade citing user fatigue and inflows and make something moves in the name mike khouw >> we saw about one times the average daily put volume in block. that was a result of a large put spread, the november 57.5, 50 put spread traded. the trader bought those 57.5 on monday and realized a profit and their taking that and some more to bet the stock could be down as much as 19% by november expiration. >> thank you mike. for more "options action" tune in tomorrow at 5:30. ratings coming in hot for the nfl first game so the py--py labylais next when "fast money" returns good luck. td ameritrade, this is anna. hi anna, this position is all over the place, help! hey professor, subscriptions are down but that's only an estimated 15% of their valuation. do you think the market is overreacting? how'd you know that? the company profile tool, in thinkorswim®. yes, i love you!! please ignore that. td ameritrade. award-winning customer service that has your back. >>> welcome back to "fast money. amazon airing the second thursday night football game tonight between the steelers and the