Fast Money's Options Trades-5
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Date updated:08-13-2008

The traders highlighted a number of options trading opportunites.

symbol name last price % change open
  • +
  • HD
    Home Depot Inc
  • $24.57
  • -2.73%
  • $24.87

However, I see real optimism in both Home Depot (HD) and Lowe’s (LOW), Najarian adds. There’s very strong call buying in Home Depot. And I’ve noticed positive institutional buying in Lowe’s

People owning HD also tend to own: CCLXCVSGOOGGSJNJLLY

TheStreet.com Rating: C What is this?

  • +
  • LOW
    Lowes Companies
  • $22.13
  • -3.61%
  • $22.34

However, I see real optimism in both Home Depot (HD) and Lowe’s (LOW), Najarian adds. There’s very strong call buying in Home Depot. And I’ve noticed positive institutional buying in Lowe’s

People owning LOW also tend to own: CCATDEFNMFREGEKO

TheStreet.com Rating: C What is this?

  • +
  • JCP
    Penney J C Co Hol
  • $21.50
  • -3.59%
  • $21.96

The retailer I don’t like is JC Penney (JCP), he adds, I see put buying that appears to be negative.

People owning JCP also tend to own: AAPLADBEBBYCMCSAGOOGMDTORCL

TheStreet.com Rating: C What is this?

  • +
  • WMT
    Wal Mart Stores
  • $55.54
  • -0.86%
  • $55.49

I like Wal-Mart, says Jon Najarian on Fast Money. And the large volume of call buying in this stock would make most investors feel positive. But I don’t think now is the time to buy. The recent upside mainly comes from interest in their dividened (not from stronger-than-anticipated sales.)

People owning WMT also tend to own: AIGALLBACCCATCBSCOP

TheStreet.com Rating: B What is this?

  • +
  • USO
    U.s. Oil Fund Et
  • $33.27
  • -10.68%
  • $36.71

I think we could go to $110, says Joe Terranova. Friday is the options expiration for the September contract. The open interest in puts at the $110 strike is above 25,000 and building.

People owning USO also tend to own: AAADMCCRTCVXEWBCFMDMRO

TheStreet.com Rating: No Rating What is this?

  • +
  • GLD
    Spdr Gold Shares
  • $82.75
  • -2.80%
  • $84.56

I wouldn’t get into gold without protection, says Jon Najarian. Look at an option trade on the GLD, calls if you’re bullish and puts if you’re bearish.

People owning GLD also tend to own: AAPLBABENBMYCOSTGOOGIAAC

TheStreet.com Rating: No Rating What is this?

  • +
  • CSX
    C S X Cp
  • $34.75
  • -5.29%
  • $35.86

Keep an eye on CSX Corp (CSX) and Union Pacific (UNP) Najarian counsels. The put buying appears bearish. I think they’re breaking down. As the commodity trade unravelsit could take the rails lower.

People owning CSX also tend to own: AEPAMPAOCCAGEIXFGNW

TheStreet.com Rating: B- What is this?

  • +
  • UNP
    Union Pacific
  • $49.76
  • -7.87%
  • $53.41

Keep an eye on CSX Corp (CSX) and Union Pacific (UNP) Najarian counsels. The put buying appears bearish. I think they’re breaking down. As the commodity trade unravelsit could take the rails lower.

People owning UNP also tend to own: AAALLAPCBABACCCAT

TheStreet.com Rating: B What is this?

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