summertime to the upside, buy a call, sell a downside put spread, cheap way to play to the upside. >> mike khouw make a bullish bet there, and call spreads lulu. >> that does it for us have a great holiday weekend, back next friday at 5:30 p.m. meantime, taking stock with mike santoli starts right now - [narrator] this is a paid advertisement for csn. (inspiring music) - you know, one of the great things about being here is knowing that, you know, we have, a lot of you join us every single week, and i thank each and every one of you, and for those of you that do join us every week, as you watch the show, you would assume that the number one best-selling thing that we have is, of course, american silver eagles. and that's to some degree, true. but, in all honesty, by sheer volume of coins,

on the desk tonight, mike khouw, carter worth, and brian stutland we begin with a wild week for the regional kre rebounding more than 6% today, but the group i still down 10% this week some of the biggest losers, pacwest, first horizon, western alliance and more. mike is starting to see some options traders nibble at these names. mike, what are we watching >> best thing to take a look at if you're trying to get a sense of where investors' sentiment, try to take a look at the proxy for the entire space, and that is kre, the etf that tracks regional banks one of the biggest options we saw yesterday, traded over a million contracts. of course in a lot of the single names, the constituents, some of the stocks you just mentioned, during the course of the week we saw bearish bets especially early in the week, and some of those turned out to be quite prescient. actually yesterday on all of that volume the sentiment on balance and kre was actually positive calls did outtrade puts but actually we measure positive sentiment two ways one is with call buying and the other is with put selling. what we ar

summertime to the upside, buy a call, sell a downside put spread, cheap way to play to the upside. >> mike khouws, make a bullish bet there, and call spreads lulu. >> that does it for us have a great holiday weekend, back next friday at 5:30 p.m. meantime, taking stock with mike santoli starts right now advertisement... ...sponsored by nano hearing technology. fantastic! hi, i'm bill hennessy and i'm dale allen, hello to our viewers at home, we're so glad you joined us today

the options market is betting on big moves when these names report mike khouw's got the action. moves for all of these amd's going to be reporting, looking at a 7.5%, fstarbucks, 5% i'm looking at starbucks this one traded more than 1.5 times its average kday by put volume the busiest call contract were the june 115 calls we did see some two-way flow, but i saw an institutional buyer b paying $5.20 for 500 we saw 20,000 of those trading >> tim, you are a shareholder, you are an angry customer -- >> consumer. >> disgruntled -- >> inflation >> that's exactly why you on it? >> it is and i'm not sure they're going to be able to hold these prices and hold the margins, because they've been extraordinary, especially in north america. we talk about the risk of some of the china growth. i look at the chart, and the rsi on starbucks, nine-day rsi, retalk about relative strength indicators, they give you a sense of how overbought a company is, but for the last month, this company's been north of 80 on an rsi, and it's trading at 88, never been this high valuation, it's tough for me, even t

but options traders spoiling the party with some bearish bets mike khouw has the action. gle stock options today, trading a quarter million contracts. 20% above average. and unfortunately, it seems like some of those options traders are not that optimistic about this the most active contract are the weekly 355 puts. we saw over 15,000 of those trading for $3.21. buyers paying a little less than 1% of the current stock price on a bet that the decline that we saw today could continue through the end of the week. >> how do you like netflix here, dan? >> i think it's probably getting a little toppy on the chart here i love this netflix to disney ratio, like, the market cap are almost equal, and when we get a switch one way or the other, maybe we're right at a precipice of an inflection point so, the news has been so bad at disney and it's been really good in netflix for the last six to nine months. >> sounds like -- now i'm inside dan's head >> really? >> oh, geez. you don't want to go there >> a dan nathan pair trade is coming to again, another theater near you before, where

mike khouw's got the options action mike >> salesforce traded more than three times the average dailyume today right now, the options market imflying a move of 9%. calls were outpacing puts and the busiest of those were the 240 strike calls that expire at the end of this week we saw 4,200 of those trading for $3.33. buyers are betting that move will be to the upside. >> guy, what are you thinking about crm? >> valuation's probably cheap historically, but still trades like one turn from a market multiple unabaited run since december you think take profits into this number not add into a long position >> mike, thank you mike khouw for more options action, tune into the full show, that's friday, 5:30 p.m. eastern time. >>> coming up, why one top analyst is doing this. when it comes to the banking seconder to. you won't believe your eyes. the details and much more when "fast money" returns you ok, man? the internet is telling me a million different ways i should be trading. look! what's up my trade dogs? you should be listening to me. you want to be rich like me? you want to trust me on t

who made some big bearish bets mike khouw's got the action. olume, and the russell 1,000 regional b banks, there's 26 of those, traded six times their average daily put volume the busiest of them was pac west, which kraeded more than 11 times its average daily put volume the most active contract was the weekly five strike put us. 14,000 of them paying 53 cents they expire this coming friday buyers of those puts obviously think that the worst may not yet be over. >> mike, thank you mike khouw for more options action, the full show, friday, 5:30 p.m. eastern time. >>> up next, final trades. ♪ ♪ the biggest ideas inspire new ones. 30 years ago, state street created an etf that inspired the world to invest differently. it still does. what can you do with spy? ♪ ♪ ♪ (upbeat music) ♪ ( ♪♪ ) constant contact's advanced automation lets you send the right message at the right time, every time. ( ♪♪ ) constant contact. helping the small stand tall. your record label is taking off. but so is your sound engineer. you need to hire. i need indeed. indeed you

yeah, kind of interested sad to say >> all right, one trader is taking advantage of baba's bet mike khouw'sn. hey, mike? >> yeah, so, baba was one of the busiest single stock options we saw today. calls outpacing puts by more than three to one. one of the bigger trade wes saw in any stock today was a purchase of 4,000 of the september 95 calls that's an outlay of $2.4 million, it gives them the right to buy $38 million worth of stock and it's beat that the stock could rise more than 17% by september expiration. >> yeah, mike, we already had a lot of chinese internet earnings out already, jd, as wells as baidu. what are we seeing in the rest of the group >> well, they did well in terms of their numbers, but no so well in terms of their price action we own baidu we had exposure to a lot of other chinese stocks we've paired them. and i have a real interest getting back into some of these things, but it's very difficult, obviously, to do that with the punishment we've seen, but i think this may be a buying opportunity, which obviously some of the other people are saying, as well. >> all right,

mike khouw has the details on one huge bet against the pharma name mike >> yeah, well saw over threege daily options volume in this, and the most active options were the january 2024 85 strike puts. a block of 10,000 of those trade for $10.75, two more blocks of 5,000 apiece traded for similar price within minutes and ultimately, nearly 35,000 of them traded all day. this represents some of the highest premium i've ever seen spent on a single options trade and my guess is what's going on is that people who are long the stock or may have purr chaised more of it betting that the deal is going to go through or deciding to hedge their bets >> all right, mike, thank you for that mike khouw for more options action, tune in friday, 5:30 p.m. eastern time. >>> coming up, david faber's exclusive interview with elon musk is just moments away. so, what would our traders ask elon stick around, we'll break that down rightft ts. aerhi if your business kept on employees through the pandemic, getrefunds.com can see if it may qualify for a payroll tax refund of up to $26,000 per employee, even if it

mike khouw for more options action, be sure to tune into the full show, tomorrow, 5:30 p.m.>>> coming up, two fin tech stocks headed in opposite directions. >>> and throughout may, cnbc is celebrating asian american and pacific islander heritage. here's the host of the so money podcast. >> what i would love for people to learn and take away from my own journey as an iranian american is that when you stay financially curious, that's when you can actually start to build wealth it is the ultimate foundation for getting answers and leading you down the paths that are well aligned with your goals. - double check that. eh, pretty good! (whistles) yeek. not cryin', are ya? let's tighten that. (fabric ripping) ooh. - wait, wh- wh- what was that? - huh? what, that? no, don't worry about that. here we go. - asking the right question can greatly impact your future. - are, are you qualified to do this? - what? - especially when it comes to your finances. - yeehaw! - do you have a question? - are you a certified financial planner™? - yes. i'm a cfp® professional. - cfp® professionals are

mike khouw, it seemed like a warning shot, dan had mentioned, i mean, this is, you know, the chips that are needed for critical infrastructure, that's a small percentage of what microsells into china. so, this is the way it feels on this scale, but we can rachet that up. >> yeah, i think this is a much more symbolic type of a gesture, for sure consider wpg in taiwan, they actually generate more revenues for micron than basically all of mainland china does, and as you point out, the affected areas, that's not going to encompass all of that 10%. i think dan's really getting to the heart of the issue, though, which is, you know, we're seeing these big revenue declines from micron, and that is, you know, demand for the products that their chips support is just not there. it is trading a little bit of a discount to the market at 17 1/2 times. that's the number i'm still going at, and it's a cyclical business, so, it should trade at a discount, especially in this environment. i think this is -- as carter likes to say, a pair of -- t this -- >> i mean, the overall impact on the stock is pretty

we're live at the nasdaq market site on the desk tonight, carter worth, mike khouw, and brian stutland two reads from the consumer from the rise in restaurant and housing to new lows in the retail trade, the chart master she has lows and highs are a cause for concern. carter, what do you mean here? >> if you think about the circumstance of what vulnerability is there's two types. it's vulnerable weak, someone that's ill or a political campaign that's on the ropes or a hedge fund that has too many shorts people go after and exploit vulnerability. vulnerable extended is the opposite you're the champion, everyone's come for you, you're the most popular kid on the class and people turn on you the sporting season that can't end. we have a circumstances where certain areas are vulnerable extended, restaurants, home builders being all time highs. and yet you have retailer at all-time lows. the three lines tell the tale. home builder up and to the right. xrt almost making 52-week lows let's remove the sector and look at two on their own. you see this bifurcation typically what happens the ones

on the desk tonight, mike khouw, carter worth, and brian stutland from one perspective, the market looksesilient, enduring hit after hit. but from a different perspective it could also be on life support, holding on rather than holding firm there's a bifurcation within the market and both sides are telling very different stories about the economy. so, which is more likely correct? what does similar history support, carter worth lays it out for us. >> bifurcation is a circumstance, not about concentration of market big cap names, it's stocks on steep up trends independent attack, mcdonald's or lily or hershey new six month highs of 15 and 20%. and exact opposite u.s. steel, city bank, 3 m at 6 month lows all down 15 and 0%. 3,000 basis points of spread independent attack what it represents is people clustering into fewer and fewer names as others continue to get worse, and one can say so what, that's why the market's unchanged, some winning, some losing but at some point the steep and uncorrected stocks are full, rich, expensive while the weak stocks are telling a message about the econom

on the desk tonight mike khouw, carter worth and brian stutland.e begin tonight with a tale of two reads from the consumer. the highs of the housing sector to the new lows in the retail trade. the chart master says both of these extreme highs and lows are an extreme investing cause for concern. so carter, what do you mean here >> so if you think about the circumstance of what vulnerability is, there's two types that can manifest themselves in the market or this life it's vulnerable weak, right, someone that's ill, or a political campaign is on the ropes or hedge fund has too many shorts, people go after, they exploit vulnerability, and vulnerable extended is the opposite you are the champion and everyone's coming for you, the most popular kid in the class and people turn on you the sports season that can't end. so we have the circumstance where certain areas within consumer are vulnerable extended, restaurants all-time highs, home builders all-time highs but retailers basically at all-time lows. so here you see a comparative chart, and the three li

eastern time right here on cnbc tesla's options seitzing a huge amount of action today mike khouw hastock option today. the options market implying a move of more than 4% after that about yule meeting the busiest options were the 170 strike calls, the ones that expire at the end of this week, but the biggest single trade was a purchase of nearly 9,500 of the may 26th weekly 170 calls. the buyer of those paying $4.75 a contract that's $4 million in premium betting on an upside move of 5% by the end of next week. >> thank you for that, mike. guy, if you were able to sit down with elon musk yourself, what would be the first question you would ask him? >> oh, oh my goodness. >> what -- what is the financial -- what are your requirements to continue with your bankers and your debt holders in terms of this twitter deal like, what are you on the hook for? i don't know how i would phrase it, but it would resolve something around the debt load around the twitter deal. >> so, the implication of that, does he have to sell shares -- >> sell more tesla stock >> right, right. tim? >> correct >> i w

mike khouw has the action for us what's going on here, mike >> yeah, so, the options market right nowr or lower by the end of the week after they report earnings that's consistent with the 5.6% or so the company has averaged over a similar period looking at the last eight reported quarters sentiment was slightly bearish the busiest options were the weekly 97-strike puts. we saw over 6,000 of those buyers are betting on a downside move of about that 6% by the end of this week >> thank you very much, mike tim, what do you make of disney? what are your moves here >>> think the stock has been range bound. if you look at the chart, kind of interesting, it's coming up against the 103, 105 levels. the chart is encouraging i don't think they're going to knock your socks off in terms of what their streaming revenue was, it's about controlling the losses that will be closely watched parks outperformed and the operating income coming out of parks, certainly from the business perspective offsetting, i think it's bob iger's first quarter at the helm -- >> again >> right, again, and we're probably

upside, because i think we're probably at the upper end of the range right now >> mike, thank you mike khouwjust taufking about pac west down 55% right now, we saw that bid for safety in megacaps maybe that's going to help this whole trade. >> it might. >> no. >> no, but listen -- i said this last thursday when the aws guidance came out, you string together everything we've heard from tech, i think the good quarters that those stocks gapped up on is backward looking and it's going to get harder from here. when you mentioned pac west, all the companies are tech buyers, and that's the thing all these financial services companies. and i think that slows, too. >> karen >> ooimi'm long i've always been long, and i'm going to stick with it, though it's not a huge position anymore. i regret having sold any of it, actually, but at some point, it just gets too big, too expensive. the last bit, i'm hanging on >> that implied option activity, or volatility, seems very light. 4% i would say the only thing i'm really confident of is that apple moves one way or another by 10% to 15%. >> what? >> it just s

options traders betting on more gains ahead for this company mike khouw's got the action. >> second busiester target more than five times the average daily call volume. the weekly 21-strike calls were the most active, after taking some profits early, most of those being bought for the second half of the day traders betting this rally could continue >> mike, thank you for more options action, tune in friday, 5:30 p.m. eastern time upex falras. nt,in tde (vo) this is more than just a building. it's an ai-powered investment firm with billion-dollar views. a cutting-edge data-security enterprise. yes, with a slide. a perfect location for the world's first one-hour delivery. an inspiration for the next workout cult. and enough space for a pecan-based nutrition bar empire. it could happen. because there's space for any dream on loopnet. the most popular place to find a space. back when i had a working circulatory system, you had to give your right arm to find great talent. but with upwork, there's highly skilled talent from all over the globe. right at your fingertips. ♪ this is how we work now ♪

there who still see significant uncertainty in the space over the coming weeks >> mike, thank you mike khouwion, tune into the full show tomorrow, 5:30 p.m. eastern time. >>> coming up, shares of draftkings surging after its latest report. what the company said that got investors anteing up that's coming up 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. power e*trade's easy-to-use tools, like dynamic charting and risk-reward analysis help make trading feel effortless. and its customizable scans with social sentiment help you find and unlock opportunities in the market. e*trade from morgan stanley. with powerful, easy-to-use tools, power e*trade makes complex trading easier. react to fast-moving markets with dynamic charting and