Options Action: King Dollar

Despite an EU bailout, the euro continues to flounder. As a result king dollar remains on top, with the dollar index now up 9 percent on the year.

How should you hedge your bets as the stronger dollar wreaks havoc on slew of stocks?

Scott Nations of NationShares has a few ideas. Following is his options trade in ExxonMobil .

Exxon at $65
Sell June 65 call @ $1.80
Buy June 67.50 call @$0.80
Take In $1

How Scott's Trade Makes Money
Protected Above $67.50
Losses 67.50 – $66.00
Profits Below $66

Learn more about this trade. Watch the video now!

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Trader disclosure: On May 11, 2010, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Tomasulo Owns (VXX); Tomasulo Is Long VIX Options; Tomasulo Owns (GLD); Tomasulo Is Long Spot Gold Futures; Tomasulo Owns (VZ); Tomasulo Owns (CAT) Puts; Najarian Owns (KGC) Call Spread; Najarian Owns (XOM) Call Spread; Najarian Owns (MS), Is Short (MS) Calls; Najarian Owns (YHOO) Call Spread; Najarian Owns (C) Calls; Najarian Owns (BP), Is Short (BP) Calls; Najarian Owns (TEVA); Najarian Owned (BP), Was Short (BP) Calls Today; Grasso Owns (BP), (NDAQ), (DYN), (LPX), (ASTM), (ABK), (BAC), (BGP), (C), (CVGI), (JPM), (NEM), (PRST), (PFE), (BA), (T), (CSCO), (X); Terranova Owns Gold; Terranova Owns (GLD), (RIG), (SWN), (PFE); Adami Owns (AGU), (C), (GS), (INTC), (MSFT), (NUE), (BTU); Kelly Owns (FXE) Puts; Kelly Owns (FXB) Puts

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Terranova Works For (VRTS)
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Virtus Investment Partners Owns More Than 1% Of (AMKR)
Virtus Investment Partners Owns More Than 1% Of (IGE)
Virtus Investment Partners Owns More Than 1% Of (DBV)
Virtus Investment Partners Owns More Than 1% Of (XLB)
Virtus Investment Partners Owns More Than 1% Of (XLV)
Virtus Investment Partners Owns More Than 1% Of (XLP)
Virtus Investment Partners Owns More Than 1% Of (XLY)
Virtus Investment Partners Owns More Than 1% Of (XLI)
Virtus Investment Partners Owns More Than 1% Of (XLU)
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Stuart Frankel And Its Partners Own (AMR)
Stuart Frankel And Its Partners Own (BAX)
Stuart Frankel And Its Partners Own (DYN)
Stuart Frankel And Its Partners Own (CUBA)
Stuart Frankel And Its Partners Own (DYN)
Stuart Frankel And Its Partners Own (GERN)
Stuart Frankel And Its Partners Own (HSPO)
Stuart Frankel And Its Partners Own (MERC)
Stuart Frankel And Its Partners Own (NWS.A)
Stuart Frankel And Its Partners Own (NYX)
Stuart Frankel And Its Partners Own (PALM)
Stuart Frankel And Its Partners Own (PDE)
Stuart Frankel And Its Partners Own (PFE)
Stuart Frankel And Its Partners Own (PRST)
Stuart Frankel And Its Partners Own (RDC)
Stuart Frankel And Its Partners Own (TLM)
Stuart Frankel And Its Partners Own (XRX)
Stuart Frankel And Its Partners Own (SDS)
Stuart Frankel And Its Partners Are Short (QQQQ)
Stuart Frankel And Its Partners Are Short (CL)
Stuart Frankel And Its Partners Are Short (AAPL)

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Kanundrum Capital Owns (GLD)
Kanundrum Capital Owns (GFI)
Kanundrum Capital Owns (AUY)
Kanundrum Capital Owns (TLT)
Kanundrum Capital Is Long U.S. Dollar
Kanundrum Capital Is Short Euro
Kanundrum Capital Is Short Yen
Kanundrum Capital Is Short Pound
Kanundrum Capital Is Short Swiss Franc
Kanundrum Capital Is Short (USO)
Kanundrum Capital Is Short (DE)
Kanundrum Capital Is Short (NUE)
Kanundrum Capital Is Short (XOM)
Kanundrum Capital Is Short (HES)
Kanundrum Capital Is Short (XLE)
Kanundrum Capital Is Short (XLK)
Kanundrum Capital Is Short (XLI)
Kanundrum Capital Is Short (XLY)
Kanundrum Capital Is Short (FXI)
Kanundrum Capital Is Short (EWH)
Kanundrum Capital Is Short (RSX)
Kanundrum Capital Is Short (XLF)
Kanundrum Capital Is Short (EXPE)
Kanundrum Capital Is Short (IBM)
Kanundrum Capital Is Short (SU)
Kanundrum Capital Is Short (CME)
Kanundrum Capital Is Short (DE)
Kanundrum Capital Is Short (FDX)
Kanundrum Capital Is Short (AA)
Kanundrum Capital Is Short (CLF)

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Scaramucci Owns (AAPL), Skybridge Owns (AAPL)
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Scaramucci Owns (GS), Skybridge Owns (GS)
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Schiff Owns Gold

Schiff Owns Gold For Clients

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RBC Capital Markets Has Provided (DIS) With Non-Securities Services In The
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