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Options Action: JPMorgan

Intrigued by financials but not quite ready to pull the trigget yet? Options Action trader Mike Khouw of Cantor Fitzgerald has a suggestion.

He recommends selling January 39 puts in JPMorgan.

(Not to be confused with buying puts, selling a put obligates you to the stock at a lower price should the option be exercised – in essence the stock can be put to you.)

Learn more about this trade. Watch the video now!




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Trader disclosure: On December 8, 2010, following stocks and commodities mentioned or intended to be mentioned on CNBC’s "Fast Money" were owned by the "Fast Money" traders; Terranova Owns (C), (GS), (NKE), (OXY), (PEP), (PFE), (VRTS), (UPL); Terranova Owns (GLD) puts; Adami owns (AGU), (BTU), (NUE), (C), (GS), INTC), (MSFT); Adami’s wife works at Merck; Finerman owns (AAPL); Finerman owns (BAC); Finerman & Finerman’s Firm owns (JPM); Finerman’s firm owns (MCD); Finerman & Finerman’s Firm owns (MSFT); Finerman’s firm owns (OCR); Finerman’s firm owns (TJX); Finerman’s firm owns (YUM); 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 owns S&P 500 and Russell 2000 puts; Pete Najarian owns (C); Pete Najarian owns (MCD); Pete Najarian owns (MS); Pete Najarian owns (SMH); Pete Najarian owns (YHOO); Cortes Owns (TSN); Cortes Owns (TM); Cortes is short (XRT) vs. S&P 500; Cortes is short (LVS); Cortes is long USD vs. Mexican Peso; Cortes is short Corn; Cortes owns U.S. 2-Year and 30-Year Treasuries

For Joe Terranova
Terranova is Chief Market Strategist of Virtus Investment Partners, LTD
Virtus Investment Partners Owns More Than 1% Of (ABAX)
Virtus Investment Partners Owns More Than 1% Of (ALK)
Virtus Investment Partners Owns More Than 1% Of (AMKR)
Virtus Investment Partners Owns More Than 1% Of (CCG)
Virtus Investment Partners Owns More Than 1% Of (CASS)
Virtus Investment Partners Owns More Than 1% Of (CSVI)
Virtus Investment Partners Owns More Than 1% Of (EPR)
Virtus Investment Partners Owns More Than 1% Of (EXR)
Virtus Investment Partners Owns More Than 1% Of (FCFS)
Virtus Investment Partners Owns More Than 1% Of (IGE)
Virtus Investment Partners Owns More Than 1% Of (KRC)
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 (NRCI)
Virtus Investment Partners Owns More Than 1% Of (DBV)
Virtus Investment Partners Owns More Than 1% Of (XLB)
Virtus Investment Partners Owns More Than 1% Of (XLV)
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 (XLE)
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 (CLB)
Virtus Investment Partners Owns More Than 1% Of (DRYS)

For Simon Baker
Baker Ave. owns (DOV)
Baker Ave. owns (ASF)

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

For Brian Kelly
Accounts Managed By Kanundrum Capital Own (DE) Call Spreads
Accounts Managed By Kanundrum Capital Own (DRYS) Calls
Accounts Managed By Kanundrum Capital Own (MON)
Accounts Managed By Kanundrum Capital Own (MCP)
Accounts Managed By Kanundrum Capital Own (TBT)
Accounts Managed By Kanundrum Capital Own (SPY) Put Spreads
Accounts Managed By Kanundrum Capital Own (GDXJ) straddles


CNBC.com with wires.

Symbol
Price
 
Change
%Change
JPM MLP ETN
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