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Options Action: NetLogic Microsystems

Wednesday, 15 Sep 2010 | 6:17 PM ET

With earnings out in November and high short interest, NetLogic Microsystems is a "volatile name," said Mike Khouw of Cantor Fitzgerald. But the options aren't that expensive and assuming the stock has technically bottomed out, Khouw wants to make a bullish bet to play on that high short-interest.

***MIKE'S NETL TRADE****
Buy Jan. 26 calls at $2.15

Learn more about this trade, watch the video now!

Options Action
Trading Netlogic 's upgraded shares, with Mike Khouw, Cantor Fitzgerald.



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Trader disclosure: On Sept. 15th, 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 owns (IBM); Finerman’s firm owns (ORCL); Finerman’s firm owns (HPQ); Finerman’s firm owns (JPM); Finerman’s firm owns (BAC); Finerman’s firm owns (BBY); Finerman’s firm owns (GLW); Seymour owns (AAPL); Seymour owns (MSFT); Terranova Owns (APA), (AAPL), (ARUN), (BMO), (C), (DO), (EOG), (FCX), (FTO), (XBI), (GS), (HES), (IBM), (JOYG), (NBR), (NOV), (OXY), (ORCL), (PEP), (POT), (RSH), (GLD), (SLB), (SWN), (SU), (SPLS), (RIG), (UPL); Jon Najarian owns (AAPL) call spreads; Jon Najarian owns (ARST) calls; Jon Najarian owns (CSCO) call spreads; Jon Najarian owns (RHT) call spreads

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