The "Fast Money" traders explored trades in the consumer spaces of fast food and retail on Tuesday.
Trader Pete Najarian said when he looks at the fast food space, and especially the pizza area, he doesn't know why Papa John's doesn't get as much attention as Domino's. Papa John's finished the day up 1.8 percent. The company's stock is up nearly 10 percent this quarter and up more than 50 percent this year.
Najarian noted that Yum Brands' focus is no longer just Taco Bell or KFC, but also Pizza Hut because it's an area where the company can make some gains.
On retail, trader Steve Grasso said he has a problem with Wal-Mart because it's benefited from the "sell" pressure that has been put on Amazon. He said he expects Wal-Mart to fall once Amazon makes back some of its gains. For that reason, he says he'd rather buy Target, calling it the "catch-up trade."
Earlier Tuesday, Home Depot reported sales and earnings that topped analysts' expectations, driven by an increase in both the number of people who made purchases in its stores and the amount that shoppers spent. Najarian said he was surprised by how far it fell, but that there's opportunity in the stock because the earnings looked very promising.