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Options Action: Vix

Thursday, 4 Nov 2010 | 5:55 PM ET

As the market flirts with its 2010 highs, how should you position to profit and protect.

If you’re overall bullish Brian Stutland of Stutland Equities suggests protecting your long portfolio with options.

But rather than buying puts he recommends using the Vix . His trade follows:

Buy Dec. 32.5 VIX calls for about $0.40.

Options Action
Brian Stutland, of Stutland Equities, shares his options strategy.

Learn more about this trade. Watch the video now!




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Trader disclosure: On November 4, 2010, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s "Fast Money" were owned by the "Fast Money" traders; Cortes is short (AAPL); Cortes owns (GOOG); Cortes owns (K); Cortes owns (TSN); Cortes owns (CLX); Cortes owns U.S. Treasuries; Cortes owns U.S. Dollars; Adami owns (AGU), (BTU), (NUE), (C), (GS), (INTC), (MSFT); Adami’s wife works at Merck; Finerman's Firm Is Short (IJR); Finerman's Firm Is Short (MDY); Finerman's Firm Is Short (SPY); Finerman's Firm Is Short (IWM); Finerman's Firm Is Long Russell 2000 Puts; Finerman's Firm Is Long S&P 500 Puts; Finerman Owns (AAPL); Finerman's Firm And Finerman Own (BAC); Finerman's Firm Owns (CMI); Finerman's Firm Owns (M); Finerman's Firm Owns (MCD); Finerman's Firm Owns (SKS); Finerman's Firm Owns (HAIN); Finerman's Firm Owns (YUM)

For Brian Kelly
Accounts managed by Kanundrum Capital own (TLT)
Accounts managed by Kanundrum Capital own (TIP)
Accounts managed by Kanundrum Capital own (JEF)
Accounts managed by Kanundrum Capital own (TD)
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 (CLF)
Accounts managed by Kanundrum Capital own (ANDE)
Accounts managed by Kanundrum Capital own (GPRE)
Accounts managed by Kanundrum Capital own (JJG)
Accounts managed by Kanundrum Capital own (HD)
Accounts managed by Kanundrum Capital own (PCL)
Accounts managed by Kanundrum Capital own (XHB)
Accounts managed by Kanundrum Capital own (FCX)
Accounts managed by Kanundrum Capital own (JO)
Accounts managed by Kanundrum Capital own (EWH)
Accounts managed by Kanundrum Capital own (CLF)
Accounts managed by Kanundrum Capital own Euros
Accounts Managed By Kanundrum Capital Own (POT) Calls
Accounts managed by Kanundrum Capital are short Japanese Yen

For Patty Edwards
Edwards owns (BRK.B) for clients
Edwards owns (FCX) for clients
Edwards owns (GS) for clients
Edwards owns (JWN) for clients
Edwards owns (MCD) for clients
Edwards owns (SBUX) for clients
Edwards owns (WFMI) for clients

For Brian Stutland
Stutland owns (BAC), short calls
Stutland owns (CBOE)
Stutland owns (GS) bonds
Stutland owns (MCD), short calls
Stutland owns (SBUX), short calls


For Paul Ashworth
***No Disclosures***

For Mike Ryan
***No Disclosures***

For Carter Worth|
***No Disclosures***

For Joe Lavorgna
***No Disclosures***

For Whitney Tilson
Funds managed by Tilson own Berkshire Hathaway
Funds managed by Tilson are short (OPEN)

CNBC.com with wires.

  Price   Change %Change
VIX
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