mike khouw has a closer look at the action hi, mike >> hi there. yeah, you really hit it on right after this cost-cutting news came out initially, the flow was quite bearish we saw well over average daily put volume, but by the end of the day, we had about 1.75 times the average daily options volume overall, but calls did outpace puts and the buzziest calbusiest cale trading for $3.89 a contract buyers of those calls are betting that target's implied move, which is implied 7% by the end of the week, could be to the upside they are raisking it to recover to the levels we saw a week ago. and that expresses the u uncertainty of the timing of this announcement. >> all right, mike, thank you. mike khouw >>> coming up, the skinny on hims shares of digital pharmacy startup hims and hers soaring. we'll talk to a company executive to discuss all the details. >> throughout may, cnbc is celebrating asian american, native high way yan and pacific islander heritage. here's deidrdre bosa. >>> asian americans in the workplace report receiving negative feedback at

> thank you >> if you are looking at a cheaper way to get into nvidia right now, let's bring in mike khouw an options strategy on this name. mike, people feel like they missed it, people are afraid of owning the stock up here what do you do >> yeah, i mean, it's -- it's a difficult one, right so, people may have been sitting there, thinking, i'm going to wait until we get some news out of earnings and then when i get the good news, then i'll buy it and they wake up and find that the stock is almost $90 higher and that can be a difficult situation. another difficult thing, and karen was actually alluding to this, is going out and buying calls, the september at the money calls cost roughly 11% of the current stock price. so, is there a way to get upside participation without necessarily either having to chase the stock at its current levels, or just reaching out and needing the stock to make a big move higher for tow see profits? one way to do that would be to use a call spread risk reversal. i was looking at the september 1100 calls, you would buy those, sell the 1200 calls and then also se

mike khouw has the options read.s been staggering the past couple of days. >> yeah, they're back, it would seem. the stocks themselves are not back to the prior highs in some cases that they had seen, but the options volumes have certainly recovered. we have a couple examples here. the buyers were most active in the may 10 strike calls which expire at the end of this week, 25,000 of those traded for 81 cents on average. virgin galactic traded 7.3 times the average call volume. about 18,000 traded for 16 cents. and lucid group traded 6.2 times its average call volume, may 3 1/2 calls, most active, 36,000 or so traded for about 16 cents. and every one of these cases, the traders are betting on moves of 30% to 35% and risking 6% to 12% of the current stock price. they all have very high short interest. >> what kind of action have you seen in gamestop and amc? >> very much the same thing, actually. most of these, you know, really beaten down stocks, basically, it's the whole theme. people are screaming for high short int

carter worth and mike khouw. what do the charts show, carter. >> get right to it. first look at what the stock has done the past five quarters. we have a table. and michael will speak to this later but the implied move is actually sort of muted about 7 to 8%. but that hasn't happened once in the past five quarters. here on the screen you can see it's been a big up, big down, or unch and yet this time it's implied something sort of muted. to the charts, three identical charts, and we can draw the lines several different ways. the first thing to note, of course, this was basically a range-bound stock between 400 and 500 for about eight months and then essentially doubled, went from 450 to 950. let's look at that consolidation, and draw some lines here. so, again, this is the question, this kind of formation, more often than not is resolved to the upside. what's important is a fairly muted up. not one of the big ones, my guess. final chart, i think you can anticipate we stay sort of in this range, and well, one can say that's still good eating from here. i don't think

mike khouw, is it 40% of your portfolio? >> absolutely not. nothing is, though i wish it was.that percentage. that's the part about picking stocks and disdisciplined about never selling, which is essentially the man dade he's given himself in the past. this one definitely has run, and i think it's worth reminding everybody, too, 1% of his portfolio is in cash as well. >>> coming up, wrapping up a bitter week for starbucks, reeling under disappointing earnings report. could there be a bounce brewing in this name? we're laying out an options trade ahead of the results. more on the media giant when "fast money" returns. ♪♪ sandals jamaica sale is now on! with rates from $199 per person per night. visit sandals.com or call 1-800-sandals we see you. athletes. investment bankers. doctors. business leaders. we see your ambition. your desire to succeed. which is why we are investing in your future. ...empowering the next generation to reach the c-suite and elevating women's golf. because you may not always see yourself in the world, but we see you. >>> welcome back to "fast money." st