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Options Action: Earnings Preview

Can't stand coming attractions? Don't care what's coming up when you've spent ten bucks for Twilight? Well, here's a preview that can help you profit
A slew of earnings are due this week giving you an early glimpse into the second quarter.

Wednesday brings a window into the state of the consumer when Nike and Bed Bath & Beyond report results after the bell.

On Thursday, prepare to peek into the health of housing with Lennar. Plus you’ll get a feel for financials from Discover.

How should you trade ahead of these important results? Mike Khouw of Canter Fitzgerald suggests a call spread in this name.

Get all the details. Watch the video and find out now.

* Luke Bauer contributed to this post.



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Trader disclosure: On June 21, 2010, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Terranova owns (IPSU), (BX), (PFE), (GMCR), (RSX), (TER), (AXP), (KO), (BMO), (BBY), (DIS), (XCO), (SWN), (AAPL), (IPI), (AGU), (SU), (XOM), (RDS.A), (FXB), (V), (TEVA), (COP), (OXY); Adami owns (AGU), (BTU), (NUE), (C), (GS), (INTC), (MSFT); Adami’s wife works at Merck; Finerman’s firm own (AAPL); Finerman & Finerman’s firm owns (BBY); Finerman’s firm owns (BP) calls; Finerman’s firm owns (C); Finerman & Finerman’s firm owns (CVS); Finerman owns (FRO); Finerman & Finerman’s firm owns (GOOG); Finerman & Finerman’s firm owns (IBM); Finerman owns (JPM) and calls; Finerman’s firm owns (JPM); Finerman owns (RIG) calls; Finerman’s firm owns (RIG) calls; Finerman owns (TGT); Fienrman owns (WMT); Finerman owns (TK); Finerman is short (IJR); Finerman is short (IWM); Finerman is short (MDY); Finerman is short (SPY); Finerman owns Russell puts; Finerman is short (IYR); Finerman is short (SPY); Finerman owns (IWM) puts’; Grasso owns (ABK); Grasso owns (BAC); Grasso owns (BGP); Grasso owns (C); Grasso owns (DYN); Grasso owns (JPM); Grasso owns (LPX); Grasso owns (NDAQ); Grasso owns (PRST)

For Anthony Scaramucci
Scaramucci & Skybridge Capital own (AAPL)
Scaramucci & Skybridge Capital own (C)
Scaramucci & Skybridge Capital own (GOOG)
Scaramucci & Skybridge Capital own (GS)
Scaramucci & Skybridge Capital own (JPM)
Scaramucci & Skybridge Capital own (WMT)
Scaramucci & Skybridge Capital own the S&P 500
Scaramucci & Skybridge Capital own the U.S. Dollar

For JoeTerranova
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 (ADBE) for clients
Edwards owns (AAPL) for clients
Edwards owns (AMZN) for clients
Edwards owns (BAC) for clients
Edwards owns (BBY) for clients
Edwards owns (C) for clients
Edwards owns (COP) for clients
Edwards owns (CVX) for clients
Edwards owns (DELL) for clients
Edwards owns (DO) for clients
Edwards owns (GE) for clients
Edwards owns (GLD) for clients
Edwards owns (GOOG) for clients
Edwards owns (GLW) for clients
Edwards owns (HAL) for clients
Edwards owns (HPQ) for clients
Edwards owns (INTC) for clients
Edwards owns (JPM) for clients
Edwards owns (MS) for clients
Edwards owns (MSFT) for clients
Edwards owns (NE) for clients
Edwards owns (NSC) for clients
Edwards owns (NVDA) for clients
Edwards owns (ORCL) for clients
Edwards owns (PNC) for clients
Edwards owns (QQQQ) for clients
Edwards owns (RIG) for clients
Edwards owns (SLB) for clients
Edwards owns (SPY) for clients
Edwards owns (STI) for clients
Edwards owns (STM) for clients
Edwards owns (TXN) for clients
Edwards owns (UNP) for clients
Edwards owns (V) for clients
Edwards owns (VXX) for clients
Edwards owns (VZ) for clients
Edwards owns (WFC) for clients
Edwards owns (WFT) for clients
Edwards owns (XOM) for clients
Edwards owns (YHOO) for clients
Edwards owns gold for clients
Edwards owns platinum for clients
Edwards owns silver for clients
Edwards owns the Russell 2000 for clients
Edwards owns the S&P500 for clients

David Riedel
***No Disclosures***

Gene Munster
Piper Jaffray makes a market in (AAPL), (AMZN), (BIDU), (DRIV), (EBAY), (GOOG), (IACI), (SINA), (YHOO)

Mike Khouw
Cantor Fitzgerald makes a market in (LEN)

Doug Sipkin
Ticonderoga Securities LLC Is A Market Maker In (SF), (MS), (RJF), (BLK)




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