Options Action: Stryker

With shares down about 20% over the past 3 months, how should you trade Stryker ?

It’s an especially tricky trade considering Deutsche just upgraded the stock to ‘Buy’ from ‘Hold and increased the price target to $64.

Should you follow the analysts in – or follow the market momentum out?

Mike Khouw of Cantor Fitzgerald thinks the situation is ripe for an options trade. Get all the details. Watch the video now!

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Trader disclosure: On Sep 6 2011, the 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); Seymour owns (BAC); Finerman and Finerman’s firm own (AAPL); Finerman owns (BAC) and Finerman’s firm own (BAC) leaps; Finerman owns (JPM) and Finerman’s firm owns (JPM) stock and (JPM) leaps; Adami Owns (AGU); Adami Owns (C); Adami Owns (GS); Adami Owns (INTC); Adami Owns (MSFT); Adami Owns (NUE); Adami Owns (BTU)

For Dennis Gartman
Funds Managed By Dennis Gartman Own (PGH)
Funds Managed By Dennis Gartman Own (CF)
Funds Managed By Dennis Gartman Own (MCP)
Funds Managed By Dennis Gartman Own (FAX)
Funds Managed By Dennis Gartman Own the Canadian Dollar
Funds Managed By Dennis Gartman Own the Australian Dollar
Funds Managed By Dennis Gartman are short the Euro and the Sterling
Funds Managed By Dennis Gartman Own Corn
Funds Managed By Dennis Gartman are short Soybeans
Funds Managed By Dennis Gartman are short S&P 500 futures
Funds Managed By Dennis Gartman own Aussie Dollar

For Brian Kelly
Accounts managed by Brian Kelly Capital own (TLT) options
Accounts managed by Brian Kelly Capital own (MON)
Accounts managed by Brian Kelly Capital own (MCP)
Accounts managed by Brian Kelly Capital are short (EWG)
Accounts managed by Brian Kelly Capital are short (FXF) options
Accounts managed by Brian Kelly Capital are short (FXE) options

For Rebecca Patterson
** No disclosures

For John Roque
** No disclosures

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