Yahoo! Buzz Will Sting the Shorts: Pro

The Street just can’t stop talking about Google executive Marissa Mayer accepting the top job at Yahoo!

“I think she’s a fantastic choice,” says top hedge fund manager Eric Jackson of Ironfire Capital.

“One week ago I wouldn’t have dreamed that Yahoo! could hire Marissa (away from Google)," says Jackson during a live interview on CNBC's Fast Money Halftime Report. "If asked, I would have said she’s out of their league. But they got her. The tech elite are very buzzed!”

The Street is buzzing too. And with so much buzz - you might want to change the way you trade Yahoo! or risk getting stung.

For the next two months as Meyer gets settled, Jackson says go long and then sell puts and calls against the position. He believes the stock will settle into a small range.

But when Yahoo! closes it’s deal with Alibaba watch out. Don't be short.

"I think that happens in September," he says. "And when that happens position for the stock to really move. It could explode. $22 by the end of the year is entirely possible."

At the time of writing, that would be a gain of about 30% in less than 6 months!

Posted by CNBC's Lee Brodie

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Trader disclosure: On July 17, 2012 , the following stocks and commodities mentioned or intended to be mentioned on CNBC’s "Fast Money" were owned by the "Fast Money" traders; Guy Adami is long C; Guy Adami is long GS; Guy Adami is long INTC; Guy Adami is long AGU; Guy Adami is long MSFT; Guy Adami is long NUE; Guy Adami is long BTU; Jon Najarian is long AKAM CALLS; Jon Najarian is long AAPL CALLS; Jon Najarian is long INTC CALLS; Jon Najarian is long SLV CALLS; Jon Najarian is long ARNA CALLS; Jon Najarian is long VVUS CALLS; Jon Najarian is long CME; Jon Najarian is long CBOE; Jon Najarian is long CIGX; Jon Najarian is long GLUU; Brian Kelly is funds long SPY; Brian Kelly is funds long IWM; Brian Kelly is funds long TLT; Brian Kelly is funds long GLD; Brian Kelly is funds long SLV; Brian Kelly is funds long IBM; Brian Kelly is funds long XHB; Brian Kelly is funds long T; Brian Kelly is funds long VZ; Brian Kelly is funds long EURO; Brian Kelly is funds long MON

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