Three options strategies for the week: July 23

The "Options Action" traders share three options trading strategies to kick off the week.

Dan Nathan recommends a put spread in Facebook.

Carter Worth and Mike Khouw like the Nasdaq Biotech ETF

Mike Khouw recommends a put spread in McDonald's

Trader disclosure: On July 20, 2018, the following stocks and commodities mentioned or intended to be mentioned on CNBC's "Options Action" were owned by the "Options Action" traders: Dan Nathan is short SMH. Dan is long XLF Sept put spread. Dan is long FB Aug put spread. Dan is Long T Oct call spread. Dan is long IWM aug put spread. Mike Khouw is long S&P, HAL. Bearish on TSLA.

  • Melissa Lee

    Melissa Lee is the host of CNBC's “Fast Money” and “Options Action.”

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