In this Web Extra the traders explain how they're playing Seagate and FedEx on Wednesday.
Options Action with Seagate
Pete says you saw enormous trading of Seagate options yesterday and today, with 17,000 options traded, versus 3,000 as normal. If it stays around $5 you should "keep your eyes on this thing" until December 5. "Two weeks to work."
FedEx Disappoints
Although down 3% for the day, Tim remains optimistic about the shipping company. It lowered its guidance down for 09 and with DHL out of business in the U.S., they have only UPS as competition for its market. Also, there's a fuel surcharge that benefits the shipping company -- it "works for these guys, so it starts to look interesting."
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Trader disclosure: On Dec. 10th, 2008, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Macke Owns (DIS), (WMT), (MSFT), (MCD); Seymour Owns (AAPL), (BAC), (ETFC), (F), (MER), (CX); Seygem Asset Management Owns (FXI); Finerman's Firm Owns (MSFT); Finerman's Firm Is Short (IYR), (IJR), (MDY), (IWM), (SPY), (USO), (BBT), (VNO), (SPG), (COF), (FDO); Najarian Owns (ETFC), (CIEN); Najarian Owns (DRYS) And Is Short (DRYS) Calls; Najarian Owns (STX) Calls; Najarian Owns (UYG) Calls
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