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Options Action: Blue Nile

Monday, 20 Dec 2010 | 5:51 PM ET

Is online diamond seller Blue Nile a gem or a diamond dud?

Find out why Mike Khouw of Canter Fitzgerald is bearish and how he’d use options to place his bet!

Watch the video now!

Options Action
A bearish trade on Blue Nile, with Mike Khouw, Cantor Fitzgerald.




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Trader disclosure: On December 20, 2010, 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), (BAC), (FXI); Terranova owns (CRM), (VRTS), (C), (UPL), (PEP), (GS), (OXY), (NKE); Terranova owns Gold puts; Adami owns (AGU), (C), (GS), (INTC), (MSFT), (NUE), (BTU); Adami's wife works at (MRK); Pete Najarian owns (BBY) calls; Pete Najarian owns (C); Pete Najarian owns (GE); Pete Najarian owns (MS); Pete Najarian owns (PFE); Pete Najarian owns (V) call spreads; Pete Najarian owns (YHOO)

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)

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CARTER WORTH
Worth has no disclosures

MIKE KHOUW
Cantor Fitzgerald & Co is a market maker in (AAPL)
Cantor Fitzgerald & Co is a market maker in (AMGN)
Cantor Fitzgerald & Co is a market maker in (AMZN)
Cantor Fitzgerald & Co is a market maker in (APSG)
Cantor Fitzgerald & Co is a market maker in (AXP)
Cantor Fitzgerald & Co is a market maker in (BBT)
Cantor Fitzgerald & Co is a market maker in (BAC)
Cantor Fitzgerald & Co is a market maker in (CACI)
Cantor Fitzgerald & Co is a market maker in (CVC)
Cantor Fitzgerald & Co is a market maker in (C)
Cantor Fitzgerald & Co is a market maker in (CHK)
Cantor Fitzgerald & Co is a market maker in (CLD)
Cantor Fitzgerald & Co is a market maker in (CSCO)
Cantor Fitzgerald & Co is a market maker in (DELL)
Cantor Fitzgerald & Co is a market maker in (DWA)
Cantor Fitzgerald & Co is a market maker in (EBAY)
Cantor Fitzgerald & Co is a market maker in (FCX)
Cantor Fitzgerald & Co is a market maker in (GE)
Cantor Fitzgerald & Co is a market maker in (GS)
Cantor Fitzgerald & Co is a market maker in (GOOG)
Cantor Fitzgerald & Co is a market maker in (HBAN)
Cantor Fitzgerald & Co is a market maker in (JPM)
Cantor Fitzgerald & Co is a market maker in (LVS)
Cantor Fitzgerald & Co is a market maker in (MA)
Cantor Fitzgerald & Co is a market maker in (MANT)
Cantor Fitzgerald & Co is a market maker in (MSFT)
Cantor Fitzgerald & Co is a market maker in (MS)
Cantor Fitzgerald & Co is a market maker in (NFLX)
Cantor Fitzgerald & Co is a market maker in (NILE)
Cantor Fitzgerald & Co is a market maker in (ORCL)
Cantor Fitzgerald & Co is a market maker in (PCX)
Cantor Fitzgerald & Co is a market maker in (RIMM)
Cantor Fitzgerald & Co is a market maker in (SLE)
Cantor Fitzgerald & Co is a market maker in (T)
Cantor Fitzgerald & Co is a market maker in (V)
Cantor Fitzgerald & Co is a market maker in (VZ)
Cantor Fitzgerald & Co is a market maker in (WFC)
Cantor Fitzgerald & Co is a market maker in (YHOO)

BARRY RITHOLTZ
Ritholtz has no disclosures on (AAPL) or (NFLX)

DOUG KASS
Kass has no disclosures on gold

JOE LAVORGNA
LaVorgna has no disclosures

RICH GREENFIELD
***NO DISCLOSURES ON TWX, VZ, GOOG, MSFT, CVC, DWA, RGC

ALEX HAMILTON
Hamilton has no disclosures.

JOE TERRANOVA FAST FIRE SOT
Terranova did not own eBay on 11/24/2010

CNBC.com with wires.

  Price   Change %Change
NILE
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