shares of nike virtually flat for the year, and with earnings on the horizon, mike khouw has the bullnd bear take on the name mike >> yeah, so this is a stock that we actually own. i mean, it's growing at probably 7% to 12% annualized looking at that through 2025, they're performing on the digital side, probably reaching 60% of sales by 2025, and are executing in terms of speed to market and have an upside opportunity it's trading 32 times forward, high beta name in a rough environmenting and right now the options market is implying a above average move, and the implied volatility with the rest of the market at a short end curve. to me the way to take advantage is with a diagonal call spread march 24 april regular diagonal call spread. buying the regulars of april, selling in march 24th expiration, the idea taking advantage of the elevated short volatility that we see as a result of earnings, but getting to own basically, you know, just out of the money upside call. >> love a diagonal call spread >> and you don't love me for being -- i actually have a short position in nike. >> you sa

on the desk tonight, mike khouw, carter worth, and brian stutland. begin with our weekly check on some of the names we're seeing in "options action" this week. among them, nvidia, bank of america, coin basal heavy interest in banks showing up in the etf. traders flood into the qqqs, small caps, the kre regional banks and the gld. and that's where we start, with three -- areas of the market flashing warning signs. the ten-year hitting its lowest level since september at one point today. meantime capitoling to slide lower, crude down 10% over the last month. then the big move in metals. fourth straight week of gains. and copper best week since january. carter, take us through why these moves are cause for concern. >> sure. so, one thing we know of course is that stock prices themselves are part of the government's leading indicator index. they are aware we peaked january 2022 quite some time ago, and while we might have been stabilizing and not getting worse, we are not improving. -- on the street are exactly not happening. 5% higher in the ten-year yi

trader thinks this move has legs mike khouw has the action. so first republic traded 24 times its average daily options volume today it was the 13th busiest single stock option and the fourth busiest amongst financial. activity really went both ways there were both bullish bets and bears bets the largest trade by the end of the day was the march 30 straight puts. we saw those trade for a little over two bucks, that by traders who are a little bit concerned because they're risking 5% of the current stock price on a 25% out of the money that expires at the end of this week implied volatility has come in and we're seeing an increase in the bullish bets in the regional banks, particularly first republic >> quickly, karen, you're in this first republic trade. >> i'm in the trade. it's a bit of a capital structure arbitrage. long the preferred just got annihilated yesterday and short some out of the money calls. i think in a lot of scenarios, i think they'll be okay. i wouldn't be shocked if you woke up tomorrow and warren buffett or somebody like t

bets against the small caps for melissa lee i'm tyler matheson welcome, everybody on the desk, mike khouw, carter worth, tim seymour gentleman, welcome good to be with you. we wrap up march trading with some of the names seeing the most "options action" this quarter. among them, tesla, nvidia, apple, microsoft, and meta heavy interest in a number of etfs as well trade is flood into the spy. the qqqs, russell, as well as corporate debt and gold. markets finishing the quarter strong today the tech heavy nasdaq leading the surge up nearly 17% for the quarter. the s&p jumping 17%, and the dow attempting a turnaround, bounce back from its october lows positive territory by a third of a percent for the year so far. it was, as you probably know, a rough march for banks. the svb collapse sent shock waves through the entire sector. the kre regional bank etf notching its second worst month on record. and the kbe locking in its fourth worst month ever. the volatility comes as we gear up for money center banks to kick off earnings. mike, you're focusing on those what can you tell us >> we actually st

mike khouw, carter worth, and brian stutland let's get into it with the trades heard around the world this week. the fxi, eem and ewz seeing heavy volume as traders look for gains from china to brazil and everywhere in between. what do the technicals say about this globe trotting group? carter, take us around the world in charts. >> sure, what we know, of course, on a long-term basis, emerging markets are pretty massive underperformers of developed markets. now, right now, if you look at the msci, emerging market index, which the eem is based off of, we are bet all-time lows, relative lows seen in 2000 made sense the dotcom peak. the question is now that we've gone back to that extreme underperformance is this a bit of a base and a bottom that brings up the here and now charts kwb, you could use fxi, any number of things, but that has all the elements of a bearish to bullish reversal the iteration on the screen, the moving average, the smoothing mechanism, the 150-day turning, but you can annotate it and call it a head and shoulders bottom, see that here, and you can also call it a cu

on the desk tonight, mike khouw, carter worth, and bonawyn eison. we wanted to provide you with an options psa on risk management there is a unique car insurance happening around options and svb and similar names that could leave you vulnerable if you're not sure how to handle it. mike, you did tweet out a warning and it's worth repeating as we look down the options change further out in time. >> one of the important things to remember is you do occasionally get special circumstances. you might trade options on silicon valley bank, and suddenly you wake up and the stocks have been halted. your question is, what becomes of the options that i currently hold so, it's interesting, and it's available publicly if you're interested you can go to the occ.com. that's the options clearing corporation. and they publish info memos. it's there fr there i learned the following. options clearing corporation was and is imposing no restriction on -- and in silicon valley bank shares that means if you hold puts that are expiring today or the subsequent expirations, y

. >> mike khouw is here with some options action in ge mike, welcome. are you feeling bullish? are traders feeling bullish about this >> they are, but i think they're in livan we saw five times the daily options, and based on the move we saw, a lot of that was activity expiring but the activity that i was looking at was the april 100 calls, over 3200 of those trade to about $1.40. that lulled some institutional print. for those inclined to press after the big move we have seen, risking about 1.5% of the stock price making best of the stock rally could continue >> mike, thank you very much be sure to check into options action every friday night, 5:30. >> what you do on friday is extra. >> a market flash on silicon valley bank, a warning being issued, the stock adding losses in the after hours seema mody has details. >> tyler, the story continues, extending their sell-off the ceo telling venture capital clients to, quote, stay calm separately bloomberg reporting that peter thiel -- are combining their companies as more investors hit the sell button here. >> whenever a ceo says st

. >> you know who we should ask, of course, is mike khouw, who was in a former life cocoa b beware >>u'll hear much more on "last call." is the electric vehicle trend moves its trend? rough z ford has slashed the price of its mach-e mustang. it seems much harder than we thought it was going to be when much announced grand plans to ramp up ev and take tesla share. >> i own gm, and it absolutely falls in that camp i think 2025 was the very earlier lineup, and that's been delayed. we get to this issue of, again, is this a sale delayed or denied >> denied. >> at some point denied, i think so mary barra, who i think is fantastic has staked her career here she's been there ten year, the mastermind of this turnaround. they keep pushing back to the second part of this year -- i think this will be very difficult, but i am staying long gm >> so the lyriq, it's an suv, the direct competitor is what? >> the one these cut prices the second time in six months. you know where i'm coming from i'm short of this. there's no risk to gm and ford delaying this. this is happening for them they don't have a

mike khouw with the action mike >> yeah, so, we saw bullish low basically across the complex talkingt the minor single stocks, the efts and, of course, gld, which is the gold eft calls outpacing puts two to one. and the busiest contract were the april 14th weekly. 190 strike call. we saw 36,000 of those trading for under 90 cents a concontract buyers are saying that gld can test that. of course going back to the highs that we saw back in 2020 >> thank you, mike guy, you are kind of a gold guy, right? >> tim is, as well yeah, and listen, if you look -- >> thank you >> goldfinger, if you recall >> that's why i brought it up. >> one of my favorite bond movies, by the way sorry, sarah i think $70 billion worth of gold they continue to buy gold this year it hasn't manifested in the price. they are hedging, wait for it, their own ineptitude >> because the dollar is down? >> i agree i think the correlation here is very high. i also think gold is commodity, as well. long cycle moves gold has taken two, three runs at 2,000 it's time. and if you think about -- we are in a stag inflation world

mike khouw joins us with the action. what did you think? times daily call volume, the busiest contract was a weekly 62 spread call over 16,500 representing 1.6 million years trade for 82 cents a contract. betting on a rally that could extend through the end of the week and longer dated call buying as well. >> do you think the thesis behind it is continued improved action or is this a buffet chase? >> yeah, so it's interesting you mention that, because this was definitely amongst the energy names, the one that saw the most extraordinary volume so two things going on, of course, we saw that upgrade. that played into it. the stock has been hard hit recently, of course, the fact that berkshire is acquiring it is also a positive. despite the fact that the volumes in the other names were more muted overall in the energy sector the flow was bullish today. >> right, how does it compare to chevrons, other names in the space? >> yeah, that's interesting, you know, the chevrons and exxons and big integrated names are basically proxies for their reserv

. >> mike khouw. >> i like5ú0g■ netflix, too, bu think a put spread is a less expensive way think there'si(l much need to flankly. and in lulu'sjf case i like cal spreads going into earnings. >> that dom&mo=7ç it for us. "mad money" with jim cramer starts right now. >>> my mission is simple. to make you money. i'm here to level the playing field for all investors. there's 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. ♪ haz,clujah ♪ other people want to makesn■ friends. my job not to entertainçó but educate, teach, put in perspective. call me. 1-800-743-cnbc. tweet me @jimcramer. we are back into the european hostage game where if a european bank catches aw3 cold we can gea pneumonia. but unlike europe we give up thatxd pneumonia the moment the markets close, which is how you can end up doing pretty darn well after a horrible çóopening. our÷■ market opened down huge because of worries aboutçó the health of the german colossus tq deutschebank. then we rallied hard with the dow only

meantime, close out a huge day on this news but option traders are betting they could pull back soon mike khouwion. >> snap traded almost three times its average daily options volume today the busiest contract for the 11 1/2 puts that expire over 32,000 traded for 26 cents a contract however, i should point out calls did outpace them on balance there were more betting that it could rally through the end of the week than fall, perhaps the put activity was hedging. >> thanks for that, mike for more options action tune into the full show friday 5:30 eastern time. >>> coming up the lowdown on energy brian sullivan joins us on the ground with details. throughout march we are celebrating women's heritage here's deirdre bosa. >> i grew up with three brothers all hockey players one day as i was watching one of their games in a cold arena shivering text to my dad he said why aren't you playing the next week i was on the ice and i learned something valuable just get out there and try you can keep up. i played hockey for years then i carried that empowerment with me in other areas of life and career so my

mike khouw has the action. >> yeah, did slightly outpace the bullish bets that we saw today.s. we saw a purchase of 720 of those for $4.30 a contract. the important thing to think about, that was only 3.5% out of the money yesterday, and that purchase price is less than half a percent of the current stock price. my bet, this is probably a hedge by somebody who was happy enough to see today's bump, but figured they could spend a little bit of money in case it goes back to those gains. >> guy? >> you think regeneron $802 stock, that's all-time high. $800 is a big number. valuation-wise, it's not an extensive stock. it's trading at 17 1/2 times next year's number. this is extraordinarily reasonable in this world. so, i hear what mike is saying, maybe it's a huge, but you still have to stay with this name here, i think. >> mike, th an (vo) is three hundred and ninety-one thousand four hundred and thirty-four square feet... enough space for your ambition? loopnet. the most popular place to find a space. all across the country, people are working hard to build a better future. so w

mike khouw has the action. >> nvidia was the third busiest single stock and narrowly beating the bearish0 strike calls that expire at the end of this year. over 33,000 of them traded for 6 bucks over. finish the week more than 2% higher than where it closed today. the 250 puts were also extremely busy, so, it seems that there are two minds within the options market about what's next for nvidia. >> thank you, mike. for more action, tune into the full show, that's friday. >>> coming up, a real estate roundup. roundup. we'll dive into today's hot 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. i'm so glad we did this. i'm so glad we did this. i'm so glad we did this. i'm so glad we

first republic shares dropping 47% today, despite sources telling cnbc jpmorgan is mike khouw has thesiness est this week. we saw over 68,000 of those trading for 40 cents buyers of those puts are either putting or edging against much more bad news for the stock by the end of the week. >> all right, thank you, mike. for more options action, tune into the full show, friday, 5:30 p.m. eastern time. >>> coming up, auto inventory on the rise what does that mean for car sto stocks we're taking a trip to the car lot. that's next on "fast money." power e*trade's easy-to-use tools make complex trading less complicated custom scans help you find new trading opportunities while an earnings tool helps you plan your trades and stay on top of the market plates. plates. plates. when you add price drop protection, expedia pays you back if your flight becomes cheaper. so when you go searching for all the best plates, you'll always know, you found a good deal. >>> welcome back to "fast money. automakers have been ramping up production this year and that's got new vehicle lots filling up. will this pro

mike khouw has the action.so micron traded about 1.4 times its average daily options volume today. implying a move by 6.5% by the end of the week after they report that's slightly larger than the 5.5% the company has averaged over the last eight quarters. the largest single trade was a purchase of 1924, buyer paid 1.45. buyer of those puts is risky. that would be targeting those lows that we saw back in december by may expiration. i for one am hoping this is only a hedge, though, because we own micron in our event fund. >> all right. that is a bearish bet on that company. mike, thank you very much. >>> and for more "options action" be sure to tune in to the full show, that is friday at 5:30 p.m. eastern time. 5:30 p.m. eastern time. >>> coming up, some need relief for tired, achy feet? or the energy to keep working? there's a dr. scholl's for that. dr. scholl's massaging gel insoles have patented gel waves that absorb shock to hard-working muscles and joints, for all-day energy. fresh, warm hot dogs! when i'm n

mike khouw here with the action. >> so crm traded 6 1/2 types its average daily options volume the fourthgle stock option and one of the trades i saw that caught my eye was the may 195/220 call spread and somebody paid $7 for 1780 of those risking 1.25 million that could be worth 4.5 million if the stock rises 17.5% or more by may expiration that 220 target they set is significant for another reason that happens to correspond with upgraded price targets of 220 and one-year high we saw a year ago in march of 2022 >> jeff mills, do you own this one? >> yeah, we've own i had it for about a year and bought it in march of 2022 and april and have a cost basis around 200 so right back to break even and we held it the entire time and i think we'll continue to hold it. for us some of the highlights from the call really was the focus on margins, focus on productivity and shareholder return when we bought the stock part of our thesis was this kind of high marketing and sales spend. we thought that would eventually be a profitability level for them and i think that's finally starting to show up seein