mike ko brakes down the "options action" for us. ike. >> reporter: hi there, yes, by about 1:00 today, aflway through the options trading day, they saw two times the daily call volume, that was largely from a september 85 asymmetric call butterfly. basically what this trader is doing is betting it will run to that middle strike or $80, that's an invooes crease of about 15% where they closed in just over three months. to karen's points, if you were going to biplay it, they risked about $250,000. it could be worth 1.5 million if it hits their target by expiration. >> ibb. look at that, can we get that shot of mike ko up? first of all, look at this shot, for you "just as" fans, doesn't that look like the setting when blooper shows up on the dock looking for sheriff brodie. >> chief brodie. >> may i say something? we are not far from this point. this is massachusetts. >> that, of course, took place on martha's vineyard. >> you don't have to sell me. >> check out this chart of tech versus biotech. you seen quite the divergence in the past

mike ko breaks it all down hey, mike. >> hi there, so we did see over five times the average foot clooumlume trading and most activity was concentrated in the june 30th 52 strike puts, 30,000 in a block for about 90 cents at about 1:00 these are bearish bets that will be below 92 or $51 or tlabt by the end of the month it's important to note they will announce earnings on the 29th. >> that happens to be targeting what looks like this 52-week low area so if there is a catalyst, it can make it drop below it. that's what you are ensuring against. earnings usually, you see a move of about 5%. >> still nike? >> no, i'm not i tell you, as much as i believe in the company i don't know the space is seeing the same momentum. the ability to control margins become very competitive t. athletes become a little ubiquitous a great company, don't own it here. >> is he still there what time are you getting on you and hooper >> no. >> you got soft hands, dee >> thanks, mike. mike ko. >> more "options action," check that out tomorrow 5:30 eastern time ahead, one tanking choice for a big turn around. we'll

mike ko is over at the flaz za to break it all down. >> reporter: if you are looking to the leveragentially for a bounce, the e & p space may be a place to look. marathon oil, has had a tough year so far. we saw it average the double call volume by mid-day. that was a result of a july 7th 13 call, that's a bet that this there go up by about 10% in 30 days. you know, 33% of the stock price to make a bet of that size normally wouldn't be that wise, this one was down 57 krepts today. so it could recover that quickly. >> i know you saw that action, pete. >> i did. i think the interesting thing is wrong the derivative market is the way to play these. without having to put up as much capital and getting a lot more leverage, if they're right, they have a lot better chances going to the upside and they really will profit from that, a lot different than being the stockmarket, itself. the options market is the place to be. >> thanks for that, mike ko, for more "options action," check out the full show eastern time here on cnbc. >>> still ahead, it is the one stock that surged 15% in the last t

mike ko lives in austin. he probably knows, probably neighbors. >> he's in woods hall. >> on deck, apple making a major push in your living room gene munster says netflix could be in trouble. we'll explain why. nike getting a down grade from j.p. morgan chase. later on, has tesla run too far too fast carter worth, he called the breakout he says you may want to get out. 's here, whole tell you why. d ty just like the marines did. at one point, i did change to a different company with car insurance, and i was not happy with the customer service. we have switched back over and we feel like we're back home now. the process through usaa is so effortless, that you feel like you're a part of the family. i love that i can pass the membership to my children, and that they can be protected. we're the williams family, and we're usaa members for life. call usaa today to talk about your insurance needs. >> apple is coming to a tv screen near you. not just showing you other people's stuff, it wants to be the creator. josh

last week, mike ko and carter said the precious metal could shine. >> long gld?m looking long to august. i think you can buy the 121, 127 call pred, they were 2.65. can you sell the 127s for 85. against it? >> zb ld was up 1% this week. what do you do now? >> that's not exciting. >> is it down? >> that's true. i think the key is it was up very strongly. >> that says a lot. i think there is plenty more to go. >> yeah, we have plenty of time. it went out to august. i think this is just the first step, we are reviewing the trade. we made the first step on our hike t. journey has a long way to go. >> this is funky stuff. gold is is up, equity is up. the gld. >> 30 year rates. >> it's going down. >> there is funky stuff going on. >> i expect gold, all this risk stuff, risk options stuff, it will work at some point in summer. >>> up next, your tweets and the final call from the options pits. hey gary, what are you doing? oh hey john, i'm connecting our brains so we can share our amazing trading knowledge. that's a great idea, but why don't you just go to thinkorswim's

mike ko, not only options expert also based, you know, next door to whole food. you live in austin. >> i do. >> that's where they're based. have you the insiders there locally. what do the options take >> let's talk about something fundamentally first. it's interesting to me, whole foods is a company everybody was wondering if they're ggetting those mojo back, now now that amazon comes out, they say they under bid. what was really going on, though it's conventional to see this kind of activity in takeover situations what happens is, risk our players, they come and try to squeeze the last bit of big out of the trade they buy the stock they typically will sell calls against it they get into buy rights the back stuff, stock will not go a whole lot lower, because there is at outstanding bid. so they don't need to look for really high returns, because they view these a very low trades. >> very high level stuff there so back it up a little bit, if i can ask you, not everybody is a pro out there. when you say the risk -- are you talkingistic arbitrage -- talking about t

that's food news from mike ko.ke a listen. >> you can see here, we bought the the sharp move up here. in fact, if you take a look, this drop that we just had this week stocks were more than $7 lower than it is right now. which is one of the reasons why i'm taking a look out to september and specifically i'm looking at the 10 140, 165 call spread. you can spend $7 for that when i was looking earlier today. >> mike, what was the trade? >> this is a situation where you have to take the profits. we had probably 415 perspread is that you put on. that reversal we saw today looks disastrous, in fact, earlier today, you had a really good opportunity. >> that's what i was going to say, quick question, it went to your top short strike. if you saw that like was it the opportunity to take a profit? because at that point, do you have to wait for stept to get the full width of that call spread? >> no, i think the -- >> no, what i would have considered, i think you are short premium. if you thought it was going to mike great off