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Options Action: SPY

If you can't turn to Treasuries for yield where can you find it? Scott Nations of NationShares has an idea.

If you’re long the SPY he suggests selling the August 112 call for about $2.15. That’s a two percent yield in about 8 weeks as compared to Treasuries which are paying about 3% over 52 weeks.

Let's breakdown his trade:

***SCOTT'S SPY TRADE****
Sell Aug 112 call @ $2.15
Long SPY

How Scott's SPY Trade Makes Money
Profits up to 114.15
108-105.85 Protected
Losses below 105.85

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



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Trader disclosure: On June 24, 2010, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Adami owns (AGU), (BTU), (NUE), (C), (GS), (INTC), (MSFT); Adami’s wife works at Merck; Finerman and Finerman’s Firm owns (AAPL); Finerman’s Firm owns (AEO); Finermans’ Firm owns (ANF); Finerman’s Firm owns (BAC) stock and calls; Finerman and Finerman’s Firm own (BAC) preferred; Finerman and Finerman’s Firm owns (BBY); Finerman owns (BP) calls; Finerman and Finerman’s Firm owns (C); Finerman and Finerman’s Firm own (CVS); Finerman owns (GLW); Finerman & Finerman’s Firm owns (GOOG); Finerman & Finerman’s Firm owns (HPQ); Finerman & Finerman’s Firm owns (IBM); Finerman & Finerman’s Firm owns (JPM) stock & calls; Finerman’s firm owns (PM); Finerman’s Firm owns (RIG); Finerman’s Firm owns (TGT); Finerman’s Firm owns (WMT); Finerman’s Firm is short (IJR); Finerman’s Firm is short (IWM); Finerman’s Firm is short (MOY); Finerman’s Firm is short (SPY); Jon Najarian owns (TGT) and short calls; Jon Najarian owns (WMT) and short calls; Jon Najarian owns (AAPL) call spreads; Jon Najarian owns (ODP) call spreads; Grasso owns (ASTM), (ABK), (BAC), (BGP), (C), (DYN), (JPM), (LPX), (NDAQ), (PRST); Seymour Owns (AAPL), (BAC), (GOOG)

For Tim Seymour:
Seygem Asset Management Owns (WBD)

For Steve Grasso:
Stuart Frankel & Co and it’s partners own (BAX)
Stuart Frankel & Co and it’s partners own (CUBA)
Stuart Frankel & Co and it’s partners own (DHR)
Stuart Frankel & Co and it’s partners own (DYN)
Stuart Frankel & Co and it’s partners own (GERN)
Stuart Frankel & Co and it’s partners own (HSPO)
Stuart Frankel & Co and it’s partners own (MERC)
Stuart Frankel & Co and it’s partners own (NWS.A)
Stuart Frankel & Co and it’s partners own (NYX)
Stuart Frankel & Co and it’s partners own (PDE)
Stuart Frankel & Co and it’s partners own (PFE)
Stuart Frankel & Co and it’s partners own (PRST)
Stuart Frankel & Co and it’s partners own (RDC)|
Stuart Frankel & Co and it’s partners own (SYMC)
Stuart Frankel & Co and it’s partners own (TLM)
Stuart Frankel & Co and it’s partners own (TRV)
Stuart Frankel & Co and it’s partners own (XRX)
Stuart Frankel & Co and it’s partners own (SDS)
Stuart Frankel & Co and it’s partners own (TBT)
Stuart Frankel & Co and it’s partners are short (QQQQ)
Stuart Frankel & Co and it’s partners are short (AAPL)

Barry Ritholtz
Funds managed by Fusion IQ own (BJ)

Pavel Malvhanov|
***No Disclosures**

Colin Gillis
***No Disclosures**

Christopher Whalen
***No Disclosures**

James Paulson
Paulson owns (SPY)

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