Options Action: September Surge... or Swoon?

We've seen the best start to September in 12 years, but typically this month is horrible for the markets. How should you position?

Brian Stutland of Stutland Equities suggests gaming it with the GLD. To learn about his trade, watch the video now!

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Trader disclosure: On Sept. 2nd, 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), (RIG); Grasso owns (ASTM), (BA), (BAC), (C), (CSCO), (JPM), (LPX), (MO), (MOT), (NDAQ), (PFE), (PRST); Terranova Owns (APA), (AAPL), (BMO), (FCX), (GS), (IBM), (MRVL), (QCOM), (OXY), (SU), (TER), (XBI), (C), (POT), (GLD); Jon Najarian owns (PDE); Jon Najarian owns (SDRL) ; Jon Najarian owns (BRCD); Jon Najarian owns (MCO); Jon Najarian owns (CEPH); Jon Najarian owns (AAPL) call spreads; Jon Najarian owns (DRIV) call spreads; Jon Najarian owns (JWN)

For Steve Grasso:
Stuart Frankel & Co and it’s partners own (BAX
Stuart Frankel & Co and it’s partners own (COG)
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 (GERN)
Stuart Frankel & Co and it’s partners own (HPQ)
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 (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 are short (QQQQ)

For Joe Terranova
Terranova is chief market strategist of Virtus Investment Partners, LTD.
Virtus Investment Partners own more than 1% of (ABAX)
Virtus Investment Partners own more than 1% of (ALK)
Virtus Investment Partners own more than 1% of (AMKR)
Virtus Investment Partners own more than 1% of (CASS)
Virtus Investment Partners own more than 1% of (CSVI)
Virtus Investment Partners own more than 1% of (XLY)
Virtus Investment Partners own more than 1% of (XLP)
Virtus Investment Partners own more than 1% of (DRYS)
Virtus Investment Partners own more than 1% of (EXR)
Virtus Investment Partners own more than 1% of (XLI)
Virtus Investment Partners own more than 1% of (IGE)
Virtus Investment Partners own more than 1% of (LDR)
Virtus Investment Partners own more than 1% of (LPHI)
Virtus Investment Partners own more than 1% of (XLB)
Virtus Investment Partners own more than 1% of (MGRC)
Virtus Investment Partners own more than 1% of (NRCI)
Virtus Investment Partners own more than 1% of (DBV)
Virtus Investment Partners own more than 1% of (SUBK)
Virtus Investment Partners own more than 1% of (XLK)
Virtus Investment Partners own more than 1% of (XLU)
Virtus Investment Partners own more than 1% of (WDFC)
Virtus Investment Partners own more than 1% of (YDNT)

For Brian Kelly
Accounts managed by Kanundrum Capital own (GLD)
Accounts managed by Kanundrum Capital own (GDXJ)
Accounts managed by Kanundrum Capital own (SLV)
Accounts managed by Kanundrum Capital own (XBI)
Accounts managed by Kanundrum Capital own U.S. Dollars
Accounts managed by Kanundrum Capital own (POT)
Accounts managed by Kanundrum Capital own (TBT)
Accounts managed by Kanundrum Capital own (RAX)
Accounts managed by Kanundrum Capital own (SGG)
Accounts managed by Kanundrum Capital is short (XLF)
Accounts managed by Kanundrum Capital is short (IAI)
Accounts managed by Kanundrum Capital is short (MCO)
Accounts managed by Kanundrum Capital is short the Mexican Peso

For David Rosenberg
***No Disclosures***

For Doug Sipkin
Ticonderoga Securities LLC makes a market in ART, BLK, EV, BEN, GS, GHL, IVZ, JNS, JEF, LAZ, LM, MS, RJF, SF, and TROW ecurities

For Anthony Scaramucci
Scaramucci and SkyBridge Capital own (HNZ)

For Brian Stutland
***No Disclosures***

For Greg Locraft
Greg Locraft owns (ACE), (CB) (TRV)

Morgan Stanley makes a market in (ACE) (ALL), (ACGL), (AXS), (CB), (PGR), (TVL), (WRB), (XL)

Within the last 12 months, Morgan Stanley has received compensation for investment banking services from (ACE), (ALL), (AXS), (CB), (PGR), (TRV), (XL)

In the next 3 months, Morgan Stanley expects to receive or intends to seek compensation for investment banking services from (ACE), (ALL), (ACGL), (AXS), (CB), (PGR), (TVL), (WRB), (XL).

Within the last 12 months, Morgan Stanley has received compensation for products and services other than investment banking services from (ALL), (ACGL), (CB), (PGR), (TVL), (WRB)

Within the last 12 months, Morgan Stanley has provided or is providing investment banking services to, or has an investment banking client relationship with, the following company: (ACE) (ALL), (ACGL), (AXS), (CB), (PGR), (TVL), (WRB), (XL)