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Options Action: Playing Morgan Stanley

For Wednesday's Options Action, Mike Khouw of Cantor Fitzgerald is looking to play the financials space with Morgan Stanley . Let's breakdown his trade:

***MIKE'S MS TRADE****
Sell the July 24 puts @ .60
Buy the July 26 calls pay .95
Sell the July 28 calls @ .25

How Mike's MS Trade Makes Money
Losses below 24
Get long at 24
Profits 26.10- 28

To learn more about this trade, watch the video now!



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Trader disclosure: On June 16, 2010, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Seymour owns (AAPL), (BAC), (NOK), (SBUX); Adami owns (AGU), (BTU), (NUE), (C), (GS), (INTC); Adami owns (MSFT); Adami’s wife works at Merck; Terranova owns (IPSU), (BX), (PFE), (UDN), (GMCR), (RSX), (TER), (AXP), (BMO), (BBY), (DIS), (XCO), (SWN), (AAPL), (IPI), (SU), (V), (TEVA), (FXE), (FXB), (XOM), (COP), (OXY), (RDS.A); Terranova owns S&P Futures; Terranova owns UK Pounds; Terranova is short the US Dollar; Edwards owns (PM); Pete Najarian owns (AMD) calls; Pete Najarian owns (BAC); Pete Najarian owns (BBY) a call spread; Pete Najarian owns (C) calls; Pete Najarian owns (TCK); Pete Najarian owns (CNI); Pete Najarian owns (NOVL); Pete Najarian owns (MRVL); Pete Najarian owns (XLNX); Pete Najarian owns (MCD) a call spread; Pete Najarian owns (TEX) calls

For Joe Terranova
Terranova works for (VRTS)
Terranova is chief market strategist of Virtus Investment Partners, LTD.
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 (XLY)
Virtus Investment Partners owns more than 1% of (XLI)
Virtus Investment Partners owns more than 1% of (XLU)
Virtus Investment Partners owns more than 1% of (DRYS)

For Patty Edwards
Edwards owns (AAPL) for clients
Edwards owns (BAC) for clients
Edwards owns (BBY) for clients
Edwards owns (BJ) for clients
Edwards owns (BK) for clients
Edwards owns (C) for clients
Edwards owns (COP) for clients
Edwards owns (COST) for clients
Edwards owns (CVX) for clients
Edwards owns (DO) for clients
Edwards owns (HAL) for clients
Edwards owns (HD) for clients
Edwards owns (JPM) for clients
Edwards owns (KO) for clients
Edwards owns (MCD) for clients
Edwards owns (MS) for clients
Edwards owns (NE) for clients
Edwards owns (NOK) for clients
Edwards owns (PNC) for clients
Edwards owns (SBUX) for clients
Edwards owns (SLB) for clients
Edwards owns (STI) for clients
Edwards owns (V) for clients
Edwards owns (WFC) for clients
Edwards owns (WFT) for clients
Edwards owns (WMT) for clients
Edwards owns (XOM) for clients
Edwards owns (PM) for clients
Edwards owns (SPY) for clients
Edwards owns (QQQQ) for clients
Edwards owns (VXX) for clients
Edwards owns (GLD) for clients
Edwards owns (PGM) for clients

For Brad Hintz
Hintz owns (MS)
Hintz owns (CME)

For Mike Khouw
Cantor Fitzgerald makes a market in (MS)

For Nishu Sood
Deutsche Bank owns 1% or more of KBH, TOL, HOV & RYL
Deutsche Bank provides Investment Banking services to KBH, TOL, PHM, LEN, HOV & RYL
Deutsche Bank has received non-investment banking compensation from PHM, LEN, MTH, RYL
Deutsche Bank provided non-investment banking securities-related services to PHM, HOV

For Anthony Scaramucci
SkyBridge Capital owns (RAI)


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