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.