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Dell's Not Done

It’s a big week for Dell . On Thursday after the bell the computer maker reports earnings and investors are eager to see if recent job cuts and a new focus on emerging markets will have a positive impact on the bottom line.

Meanwhile, earlier in the week a New York judge ruled against Dell saying the computer maker engaged in fraud, false advertising, deceptive business and abusive debt collection practices.

Customers who bought Dell computers from a New York address may apply for restitution at www.nyagdell.com.

So, how should you trade Dell ahead of earnings?

The options action suggests Dell could move as much as 7% in either direction, says Susquehanna Financial Market Strategist Stacey Gilbert. The fundamental story, however, signals strong upside so I think it’s okay to own Dell ahead of earnings.

However in tech I like Corningand Apple better, Gilbert adds.




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Trader disclosure: On May 28, 2008, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders: Macke Owns (INTC), (WMT), (MSFT); Adami Owns (C), (GS), (INTC), (MSFT), (AGU), (NUE), (BTU); Najarian Owns (AAPL), (BHI), (BUD), (TSO), (XLF), (HPQ), (ANR), (ENER); Najariain Owns (EXPE) Calls; Najarian Owns (BAC) Puts; Finerman Owns (GS); Finerman's Firm Owns (AAPL), (AEO), (MSFT), (RL), (SUN), (TSO), (VLO), (WLP); Finerman's Firm Owns SPX Index Puts; Finerman's Firm And Finerman Own (C) And (C) Leaps; Finerman's Firm And Finerman Own (HD); Finerman's Firm Is Short (IYR), (IJR), (MDY), (IWM), (SPY), (BBT)

Gilbert Owns (AAPL) Call Spreads; Gilbert Owns (GLW) Calls; Susquehanna Capital Group Is A Market Maker In (DELL), (AAPL), (GLW), (TSO), (VLO), (FTO); Stacey Gilbert Is a Market Strategist For Susquehanna Capital Gorup; Gilbert Does Not Cover Individual Securities

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