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Options Action: Financials

Financials were among the worst performers on Monday after Citi slashed estimates on its rivals.

In a nutshell, Citi cut Morgan Stanley, Goldman Sachs and Bank of America, essentially saying that the anemic trading volumes would drag down earnings.

Considering this potentially new headwind, how should you trade financials, now?

Find out from Scott Nations of NationShares. Watch the video now!




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Trader disclosure: On June 20, 2011, 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); Adami Owns (C); Adami Owns (GS); Adami Owns (INTC); Adami Owns (MSFT); Adami Owns (NUE); Adami Owns (BTU); Seymour Owns (AAPL); Seymour Owns (F); Nathan Owns (JPM) Put Spreads; Nathan Owns (LNKD) Put Spreads; Terranova Owns (VRTS); Terranova Owns (IBM); Terranova Owns (FCX); Terranova Owns (CVI); Terranova Owns (F); Terranova Owns (AAPL); Terranova Owns (CAT); Terranova Owns (BX); Terranova Owns (HPQ); Terranova Owns (MA); Terranova Owns (PEP); Terranova Owns (MCD); Terranova Owns (JWN); Terranova Owns (TM); Terranova Owns (LULU); Terranova Owns (WFM); Terranova Owns (DAR); Terranova Owns (BJ); Terranova Owns (XOM); Terranova Is Short (DELL); Weiss Owns (TWM); Weiss Owns (SDS); Weiss Owns (COP); Weiss Owns (JPM); Weiss Owns (UUP); Weiss Owns (DVN); Weiss Owns (HK); Weiss Owns (CMA); Weiss Owns (MRK); Weiss Owns (AKAM); Weiss Owns (ETP); Weiss Owns (MS); Weiss Owns (QCOM); Weiss Owns (VZ); Weiss Owns (MRK); Weiss is Short (X); Weiss is Short (FWLT); Weiss is Short (FLR); Weiss is Short (SHAW)

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 (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 (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 (LHO)
Virtus Investment Partners Owns More Than 1% Of (NRCI)
Virtus Investment Partners Owns More Than 1% Of Sun Pharmaceutical
Industries Ltd.
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 (XLF)
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 DOMINO'S PIZZA UK & URL PLC

For Scott Nations
Nations Owns (SPY)
Nations Is Long Volatility In S&P

For Karen Short
BMO Capital Markets Or Affiliate Recieved Non-Investment Banking Compensation From (WFM) In Past 12 Months
(WFM) Is Or Was A Client Of BMO Nesbitt Burns, BMO Capital Markets, BMO CM Or Affiliate Within Past 12 Months (Non-Securities Related Services)
BMO Capital Markets Is A Market Maker In (WFM)

For Dennis Gartman
Funds Managed By Dennis Gartman Are Long Gold
Funds Managed By Dennis Gartman Are Short Euro
Funds Managed By Dennis Gartman Are Short British Pound Sterling

For Amelia Bourdeau
***No Disclsoures

For Mark Schoenebaum
ISI Does And Seeks To Do Business With (BIIB) And Has Received Non-Investment Banking Compensaiton In The Past 12 Months

GE Owns 49% Of NBCUnivesral
GE Owns 49% Of CNBC
Comcast Is The Parent Company Of NBCUniversal
Comcast Is The Parent Company Of CNBC


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