mike khouw,what is the action on this? >> so, a lot of options activity.ying one-day move of 6% and about 6.7%we did see calls sign outpacing puts and important point as we saw that ceo announcement. one of the things we saw was that the upside calls started getting a better bid and we started just recently seeing an uptick in the open interest that had been dwindling, up until we got that pop. we saw some profit taking on that. now more recently some call buying and that was the case today. the weekly 100 strike calls that expire next week were the most active contract, about 7,000 of those trading overall. that included an institutional purchase of 3,000 of those, so they're betting on a pretty big pop for those to be profitable. >> i get what you're seeing, mike, but just thinking about, you know, you got a new ceo, you got to think the kitchen sink is in order and that will be downside for the stock. just doesn't intellectually make sense to me. >> well, i mean, certainly people are not going to be looking back on the results right now. they're going t

mike khouw has the action on this one. mike?traded a little over two times its average daily options volume, and all of the unusual activity was associated with just two trades, and the one you were alluding to was the larger of the two. so, basically we saw 5,000 risk reversals trade in november. it was the 22 1/2 45s, selling the 22 1/2 puts and buying the 45 calls. the trader paid $1.90, so, about 5% of the current stock price. and the way to think about that is if the deal does go through, goes to the cash price of 57. then they're going goat payoff of about 4 to 1 on the premium spent. downside, of course, would be they'd effectively own the stock at that lower put strike they sold. but that, of course, would actually be priced lower than the stock was trading even before this deal was announced. >> karen, you flagged this trade. >> yeah, i love that trade. and i wish i could have done that trade. >> it moved a lot during the day. probably not terrible after, but -- the chance of this working out, i'm putting up the $1.90 a

mike khouw has the action. >> yeah, so, fedex traded three times its average daily options volume. the options market right now implying a move of about 7.4% after they report earnings, and most of the activity we saw today was, in fact, in calls. the 330-strike calls, the most active. it wasn't that they were just buyers of the 330s, they were trading calendars. so, they're looking for it to move to that strike. and that would be an increase of about 10%. >> yeah. karen, what do you think of fedex? >> well, i sold it too early. i think that, but i think it's a really good look on the consumer, really good look on the economy. a little bit of a look on holiday, not quite yet. >> uh-huh. guy? >> $315ish, we're sort of approaching that now. we've always tried to make the case of valuation. sometimes been right, sometimes wrong. now, it looks like, in terms of valuation, the market sort of -- basically saying, you know what, we can make a compelling case for fedex here, so, it all comes down to, i guess, if you lo

mike khouw has the action for us mike >> yeah, so, my ron right now, the options market is implying ar lower by the end of the week, after they report earnings. that's more than it's moved over the last eight reported quarters the most active contract were the weekly 100 calls, where 12,500 of those traegdding i should say that actually this is not the only chip that was seeing a lot of bullish flow today. five of the top ten most active calls were in the chips, and the smh semiconductor etf saw a lot of bullish activity, as well >> dan, what are you thinking for my ron >> the stock has come back so much since the frenzy, a few months ago here, so, it's a hard press on the short side. not going to take too much from a guidance standpoint to get this thing going they got the revenue growth back going again, but again, if there's overcapacity in the space, it might show up in this guidance for the current quarter. >> round trip, the entire move from this year basically 85 to 150 or so, back to 85, i mean, the setup, i think, is the best it's been in awhile. on the long side, but man, th

. >> mike khouw on utilities.earnings and slashing its full-year guidance. signaling potential cracks maybe in the broader economy. we'll get our traders' take on what it means for fedex shares in three stock lunch, next. (che) (phone ringing) [narrator] not all multi-millionaires built their wealth the same way, you have... the fearless investor. the type a cpa. the bootstrapper. the bootmaker. yeehaw [narrator] but many do have something in common. we all trust schwab with our wealth. [narrator] thanks to our award-winning service, low costs and transparent advice. every day, over a million multi-millionares trust schwab with more than two trillion dollars of their wealth. daughter: hey, dad. dad: hey, sweetheart. daughter: what are you doing? dad: i'm gonna clean the fence. daughter: it's a lot of fence. dad: you wanna help me? dad: aim at the wall, but get closer. daughter: (gasps) what the?! daughter: alright. dad: side to side. when you work with someone who knows a lot and cares even more... you can do this

. >> mike khouw. >> people know that. he was talking about this last night. the average price, they guided mid teens, the street was at 12.5%. that's good. but the bounce after the august 5th low, everything sold off on august 5th, $109. so, we're up against that prior high a couple weeks ago. this is where it should stall out. >>> all right, there's a lot more "fast money" to come. here's what's coming up next. >> a holiday shopping season for the record books. just how many billions of dollars could be coming down the chimney this year. and what experts are predicting will drive the big surge. >>> plus, silver lining trading. why investors are feeling so optimistic about the stock market. and where their biggest concerns lie. the latest on investor senmetint ahead. you're watching "fast money," live from the nasdaq market site in times square. we're back right after this. citi's seamlessly connected banking, markets and services businesses, deliver global financial solutions. so our client can keep investing in innovations for patients around the world. wit