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Options Action: Earnings Season

Earnings season is starting early this year; usually just Alcoa kicks us off, followed later by General Electric giving traders time to batten down their holdings.

But not this quarter.

We pick it right up with a series of category four storms this week as both Intel and Google hit followed by the one-two punch from financials. Take a look at what lies ahead just this week.

Monday: Alcoa
Tuesday: Intel, Yum!
Wednesday: Texas Instruments
Thursday: JPMorgan, Google
Friday: Bank of America, Citi, GE

Should you run for cover – or covered calls? What’s the trade as earnings season quickly kicks into full gear?

Find out from Mike Khouw of Cantor Fitzgerald. Watch the video now!



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Trader disclosure: On July 12, 2010, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Finerman's Firm Is Short (IJR); Finerman's Firm Is Short (MDY); Finerman's Firm Is Short (IWM); Finerman's Firm Is Short (SPY); Finerman Owns (AAPL); Finerman's Firm Owns (BAC), (BAC) Leap; Finerman Owns (BAC), (BAC) Preferred; Finerman Owns (GOOG); Finerman's Firm And Finerman Own (HPQ); Finerman's Firm Owns (JPM), (JPM) Leap; Finerman Owns (JPM)l Finerman Owns (WFC) Preferred; Finerman's Firm And Finerman Own (BBY); Terranova owns (GOOG), (AMZN), (MON), (APC), (GMCR), (MYL), (MRVL), (BAC), (ADI), (ADBE), (AKAM), (HES), (CVS), (AXP), (EMC), (ABT); Kelly Is Short (GS); Kelly Owns (BP) Puts; Najarian Owns (INTC) Call Spreads

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 (CASS)
Virtus Investment Partners owns more than 1% of (LDR)
Virtus Investment Partners owns more than 1% of (LPHI)
Virtus Investment Partners owns more than 1% of (MGRC)
Virtus Investment Partners owns more than 1% of (XLB)
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 (XLK)
Virtus Investment Partners owns more than 1% of (XLU)
Virtus Investment Partners owns more than 1% of (SUBK)
Virtus Investment Partners owns more than 1% of (WDFC)
Virtus Investment Partners owns more than 1% of (YDNT)
Virtus Investment Partners owns more than 1% of (DRYS)

For Brian Kelly
Accounts Managed By Kanundrum Capital Own (GME)
Accounts Managed By Kanundrum Capital Are Long U.S. Dollar
Accounts Managed By Kanundrum Capital Own (SDS)
Accounts Managed By Kanundrum Capital Are Short (BCS)
Accounts Managed By Kanundrum Capital Are Short (EWA)
Accounts Managed By Kanundrum Capital Are Short (EWI)
Accounts Managed By Kanundrum Capital Are Short (FCX)
Accounts Managed By Kanundrum Capital Are Short (FXI)
Accounts Managed By Kanundrum Capital Are Short (KMX)
Accounts Managed By Kanundrum Capital Are Short (NATI)
Accounts Managed By Kanundrum Capital Are Short (RSX)
Accounts Managed By Kanundrum Capital Are Short (USO)
Accounts Managed By Kanundrum Capital Are Short (WYNN)
Accounts Managed By Kanundrum Capital Are Short (XLF)
Accounts Managed By Kanundrum Capital Are Short (XLI)
Accounts Managed By Kanundrum Capital Are Short (XLE)
Accounts Managed By Kanundrum Capital Are Short (RCL)
Accounts Managed By Kanundrum Capital Are Short (CME)
Accounts Managed By Kanundrum Capital Are Short (HIG)
Accounts Managed By Kanundrum Capital Are Short (MET)
Accounts Managed By Kanundrum Capital Are Short (RKH)
Accounts Managed By Kanundrum Capital Are Short (CAT)
Accounts Managed By Kanundrum Capital Are Short (JOYG)
Accounts Managed By Kanundrum Capital Are Short (XLB)

For Kevin Sterling
BB&T Capital Markets Is A Market Maker In (FDX), (UPS)
BB&T Capital Markets Expects To Receive/Seek Investment Banking Compensation From (FDX), (UPS) In Next 3 Months
An Affiliate Of BB&T Capital Markets Received Non-Investment Banking Compensation From (UPS) In Past 12 Months

For Dennis Gartman
Funds Manged By Dennis Gartman Are Short Euro
Funds Manged By Dennis Gartman Are Short Yen
Funds Manged By Dennis Gartman Are Long Gold
Funds Manged By Dennis Gartman Short Crude Oil
Funds Manged By Dennis Gartman Are Long Natural Gas Futures, Natural Gas Trusts
Funds Manged By Dennis Gartman Own (AAPL)
Funds Manged By Dennis Gartman Are Short (GOOG)
Funds Manged By Dennis Gartman Are Short (GS)

For Gene Munster
Piper Jaffray Is A Market Maker In (AAPL)

For Mike Khouw
Cantor Fitzgerald Is A Market Maker In (AMD)
Cantor Fitzgerald Is A Market Maker In (INTC)

For Eric Jackson
Ironfire Capital Owns (MSFT)
Ironfire Capital Owns (GOOG)
Ironfire Capital Owns (AAPL)
Ironfire Capital Is Short (RIMM)

For Gary Shilling
Shilling Is Long U.S. Dollar Against Euro, Australian Dollar
Shilling Is Short Copper
Shilling Is Long 30-Year Treasuries

For Craig Berger
FBR Capital Markets Is A Market Maker Or Liquidity Provider For (INTC)

For Carter Worth
Oppenheimer & Co. Is A Market Maker In (INTC)

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