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Options Action: Corinthian

With for profit education stocks under fire how should you trade Corinthain , which is down over 50% since the beginning of the year?

Rather than taking a long or short position in stock Mike Khouw of Cantor Fitzgerald suggests the following call spread:

Sell Nov 7.50 call at .35
Buy Feb 7.50 call at 0.85

Learn more about this trade. Watch the video now!




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Trader disclosure: On Sept. 27th, 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; Terranova Owns (APA), (AAPL), (ARUN), (BMO), (C), (IBM), (HES), (JOYG), (XBI), (FTO), (OXY), (ORCL), (PEP), (POT), (RSH), (SU), (RIG), (UPL), (VRTS); Weiss owns (BAC), (MOS), (CSX), (HK), (TXN), (WFR), (QCOM); Weiss is short (SF); Pete Najarian owns (NETL) call spreads; Pete Najarian owns (POT) call spreads; Pete Najarian owns (CNI); Pete Najarian owns (AMZN) call spreads; Pete Najarian owns (AKAM) call spreads; Pete Najarian owns (RAX) call spreads; Pete Najarian owns (LLNW) call spreads; Pete Najarian owns (DD); Pete Najarian owns (NOV); Pete Najarian owns (YHOO); Karabell owns (POT), (RIMM), (AAPL); Grasso owns (ASTM), (BA), (BAC), (C), (CSCO), (JPM), (LPX), (MO), (MOT), (NDAQ), (PFE), (PRST)

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Accounts managed by Kanundrum Capital are short (XLF)
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Terranova is chief market strategist of Virtus Investment Partners, LTD.
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For Dennis Gartman
Funds managed by Gartman own Gold

For Richard Volpe
***No Disclosures***

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Freedman owns (HPQ)
Freedman owns (QCOM)
Freedman owns (AAPL)

For Mike Khouw
Cantor Fitzgerald makes a market in (COCO)

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