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tv   Fast Money  CNBC  December 21, 2022 5:00pm-6:00pm EST

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leadership will be strong and will play important role in global scope and the united states will help us to defend our values and independent and regardless of changes in the congress, i i believe that there will be bipartisan and bicameral support and i know that everybody works for this and, of course, during all of my meetings today, we discussed issues of standoff against -- in the terror of russia, their destruction of our energy infrastructure, we need to survive this winter. we need to protect our people and we need to be very specific in this area this is a key humanitarian issue for us right now this is the survival issue we are discussing sanctions and legal pressure on the terrorist
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country of russia. russia needs to be held accountable for everything it does against us, against our people, against europe and the whole free world and it is very important that we have the peace formula and for that we are offer very specific steps what america can do to help us do -- implement them we propose global formula for peace summit i'm thankful for our american counterparts that they feel us and understand how important it is to continue and stay on course and work on integrity of the country and international rule of law. we will also need as soon as our defense capabilities will be strengthened in the next few months, i don't want to discuss it in details right now. i believe you understand why,
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but i'm very grateful to president biden, thank you for your attention to all of these issues, glory to ukraine >> thank you very much mr. president. we'll take questions from four different reporters and i'll start with alex of yahoo! news >> thank you, mr. president. in 2022 you presided over a bipartisan coalition to support ukraine. how will you keep that coalition from fraying in 2023, and president zelenskyy, welcome to washington and this beautiful winter day, what is your message to the american people >> to answer your question first, i'm not at all worried about holding the alliance -- [ speaking non-english ] >> a super this is simultaneous?
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all right. okay i've never seen nato or the eu more united about anything at all and i see no sign of there being any change we all know what is at stake here our european partners all the more so. they fully understand it this is about -- we've never seen a major invasion of a european country since world war ii and they see no signs of -- that putin is going to do anything to change that unless we resist and we helpthe ukrainians resist we all know what's at stake. the very idea of sovereignty, the u.n. charter putin thought he would weaken nato instead he strengthened it i once said to him we talk about -- he wanted to see the, you know europe end up being divided. and instead what did he do he produced a more united europe
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with sweden and finland joining. so i don't see any reason to believe there will be any less support and as we reach out to our nato allies, our secretary of defense and secretary of state, we get continued support, not only there but also from around the world, from japan and many other countries, as well. so i feel very good about the solidarity of support for ukraine. >> thank you for your question thank you very much. you asked me -- which are important for me so i think that we have the same readiness and same understand of the life, the sense of the life, my message, i wish you peace, i think that the main thing and you understand it around the world in your country, when somebody like these terrorists from russia
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come to your houses and i wish you to see your children alive and adult and i wish you to see your children when they will go to universities, and to see their children i think that is the main thing that i can wish you and, of course, to be together with us jointly because we really fight for our common victory against this tyranny that is real life and we will win and i really want to win together thanks so much not want, sorry, i'm sure. [ laughter ] >> call on one of your people? press person >> yeah.
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>> yeah, thank you president zelenskyy, president biden, i have a question for both but firstly as ukraine and i mean it i want to thank united states for supporting my country and, you know my family is ukraine. i understand they would not be alive today if united states would not support them so thank you for this >> we will >> and my question, we enter a new phase of this war and you definitely discussed today which have to choose how the war could come to an end and what's next will it turn into a new counteroffensive or peace talks, mr. biden, mr. zelenskyy, what is the fair way to end this war and how do you understand this, thank you. >> my mind -- >> your guy. [ laughter ] >> i see >> i like you very much already.
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>> translator: you have started this question. >> i'm sorry sometimes i switch to my native language >> translator: you started by stating that your family is in kyiv and without the assistance of the united states, this is absolutely true. the u.s. leadership in this assistance is strong and again i would like to remind you that your family will be in danger without the armed forces of ukraine which are very important. that concerns your questions, per se, what would you like to
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hear just peace i don't know i don't know what just peace is. it's a very philosophical description. if there is just war, i don't know you know, for all of us, peace, just peace is different. for me as a president, just peace is no compromises as to the sovereignty, freedom and territorial integrity of my country. the payback for all the damages inflicted by russian aggression, i'm reminding -- i'm talking about children, a lot today, but as a father, i would like to emphasize, you know how many -- how many parents lost their sons and daughters on the front
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lines, so what does just peace for them money is nothing and no compensations or reparations are off -- are of no consequence they live by revenge i think this is a tremendous tragedy and the longer the war lasts, the longer this aggression lasts, there will be more parents who live for the sake of vengeance or revenge and i know a lot of people like that so they can't be any just peace in the war that was imposed on us by these -- i don't know how to describe that because we are in the white house and i can't find the proper language so these inhumans, i would say >> let me respond.
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i think we share the exact same vision and that a free, independent, prosperous and secure ukraine is the vision we both want this war to end we both want it to end and as i've said, it could end today if putin had any dignity at all and did the right thing and just said -- pulled out, but that's not going to happen not going to happen and it's not going to happen now so what comes next we talked about today was we'll help them succeed on the battlefield. it can succeed on the battlefield with our help and the help of our european allies and others so the if and when president zelenskyy is ready to talk to the russians he will be able to succeed as well because he will have won on the battlefield and, you know, i don't think we should underestimate the impact this war is having on russia and the losses they're suffering and
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you saw just i think it's two days ago putin saying that this is much tougher than he thought. he thought he could break nato he thought he could break the west he thought he could break the alliance he thought he could be welcome by the ukrainian people that were russian speaking. he was wrong, wrong and wrong. he continues to be wrong the sooner he makes -- it's clear that he cannot possibly win this war, that's when the time we have to put this president in a position to be able to decide how he wants the war to end. my turn, huh >> yeah. >> from cnn phil mattingly. >> welcome, mr. president. your advisers often talk about how important, how critically important you view face-to-face action after spending two plus hours
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with president zelenskyy, what you learned or what you took from the meeting that perhaps you couldn't glean or learn in the phone calls or video conferences and somewhat tied to that was there any discussion related to the u.s. assessment that russia would not take escalatory action now that patriots are being sent, will -- a patriot battery will be delivered? >> let me answer the first part of your question you know i get kidded for saying that there's all politics is personal it's all about looking someone in the eye and i mean it sincerely. i don't think there's any substitute for sitting down face-to-face with a friend or a foe and looking them in the eye. and that's exactly what's happening at this moment we've done that more than once and we'll continue to do it and the winter is setting in and putin is increasingly going after civilian targets and women and children, orphanages this guy is -- well, but he's
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going to fail, and he's going to fail he's already failed because he now knows that there's no way he's ever going to occupy all of ukraine. there's no way in which he's going to be accepted by the ukrainian people and so he's failed in the past and it's very important for him and everyone else to see that president zelenskyy and i are united two countries together to make sure he cannot succeed. and i think i may be mistaken but i know i judge every leader by the way they -- what they say to me, their consistency and look them in the eye this guy has in -- to his very soul is who he says he is. it's clear who he is he's willing to give his life for his country. and all the folks that came with him today. and so i think it's -- he is -- important for him to know we are going to do everything in our power, everything in our power to see that they succeed
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>> thanks. >> what was the second part of your question? >> i asked if you discussed how the u.s. calculated the escalatory effect of sending a patriot missile battery to ukraine? >> i did not discuss that at all with the president, but it's a defensive system it's a defensive weapon system it's not escalatory. it's defensive and it's easy to not -- and we'd love to not have to have them use it to stop the attacks. >> president zelenskyy, again, welcome. mentioned earlier that you wanted to make this trip for awhile now why now and also can you tell me what you think the message you are sending to president putin is given the fact that 24 hours ago you were on the ground in the front lines with artillery echoing behind you and now you find yourself in the white house standing next to the president >> translator: thank you very
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much for your question as to what is the message for putin, i am standing here in the united states with president biden on the same podium because i respect him as a person, as a president, as a human being for his position and for me, this is a historic moment. i can send messages to president biden, for example, if it's not serious, you said what's going to happen after patriots are installed? after that, we will send another signal to president biden that we would like to get more patriots [ laughter ] >> we're working -- >> we are in the war i'm sorry. i am really sorry. that is my appreciation.
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>> translator: as to president putin, in 2019 we had normandy ming in 2019 i became the president of ukraine and at that time we were sending maximum messages to president putin telling him that there shouldn't be a full-scale invasion to stop aggression to renew our territorial integrity to find diplomat exsolution. god forbid we should not have a full-scale war at that time he said it won't happen he was lying so what kind of message i can send him after he actually destroyed our life, is destroying our life, he can even go further, somewhere where the soviet union stayed before this so he might want to invade those territories too.
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i believe that there is something more about his inadequate approach to the war why we need to send him a message. he needs to be interested in getting attention from the world, because he's not a subject of civilized people. he should be interested in trying to save something of his culture and history of his country. so that's his problem now. >> this will be the last question sfluf's been watching president biden, ukrainian president volodymyr zelenskyy hold a joint news conference welcome to "fast money." we're going to get to our traders and the market rally in a moment but first to our white house correspondent kayla tausche. >> reporter: in the east room of the white house as presidents biden and zelenskyy take one final question from a ukrainian reporter, they're standing next to each other on a stage here in
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washington to re-establish a united front between ukraine and the west as the war in that country enters a new phase becoming more bloody as the deaths rack up, more painful as russia attacks civilian infrastructure and colder as russia uses weapon -- uses energy as a weapon or in president biden's words weaponizing the winter in the questions we heard a few moments ago, the presidents were asked how they would respond if russia decides to retaliate against the announcement today that the u.s. would be sending patriot missiles to ukraine? in a moment of levity president zelenskyy he would ask mr. biden for more patriot missiles. but what was elusive was any semblance that there will soon be an end to the war despite the fact that the two leaders discussed diplomacy and the possible diplomatic pass, president zelenskyy had very
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harsh wards for mr. putin as did president biden who he said remained unwilling to negotiate, unwilling to display any decency so, frank, the expectation is that this war will continue with $45 billion in new funding about to be green-lit by congress. that is expected to go through september of 2023. president zelenskyy will take his message directly to congress and the american people this evening. frank. >> all right, thank you very much our kayla tausche live at the white house. all right, time to welcome in tonight's traders, dan nathan, karen finerman, tim seymour and guy adami. thank you for being here the robust rebound for the markets and possibly just a hint of sad that is -- this graphic is cracking me up. tough 2022 nike fished up more than 12% on the back of better than expected earnings and host retail names getting a big today from foot locker tolu lew lemon
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to ulta and closed up 526 points and s&p surging 1.5% and the major averages are going to wrap up their first year since 2008 the vix down over 9% and dropping sharply from its early december peak. so with consumer confidence rising and the fear gauge falling can investors ride it through the end of the year. dan, you're beside >> maybe think about friday afternoon is going to be pretty quiet we have monday off on the 26th then we'll have a quiet late next week so if, you know, if you want to run them, have at it, people run them into the end of the year we've had a nice rally off mid-october lows and say this, quickly, though, you know, as investors start thinking about what are the expectations for 2023, s&p and earnings still probably high. consensus up 5% year over year and the one thing that the fed has not been able to do as they're battling inflation with
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all of these rate increases that we've seen, you know, wage growth and unemployment, wage growth is sticky and unemployment hasn't really ticked up meaningfully but we do see other inputs going up like crude oil has had a 10% rally off its recent lows and the fact that yields have risen to me also suggests that this is going to be a tough slide so i really believe the higher we go in the year end is probably what comes back fairly quickly in the new year. >> you want to say tough sledding to keach the santa thing going. are we on pace for a santa claus rally? does it start the week before christmas or the week after? >> i sort of feel like the santa claus rally came early this year, that run we had, that ended, i don't know, ten days ago was a pretty significant run and agree with dan we could levitate up or downsideways for the next few days but i don't think anything fundamentally changed and the last message from the fed was
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hawkish so i'm not that optimistic at the moment but i'm always long regardless >> all right, so limited optimism there, tim, over to you. buy yields have risen which impacts technology stocks very often, big part of the s&p, what are your thoughts? is santa loading up the sleigh for a big rally? >> well, frank, i think the japan boj announcement which i think is very significant for the potential for yields to move higher around the world and have seen european sovereign yields even before japan made the announcement were moving back near their highs i think as much as there's a struggle between the long en the curve and when yields were not just falling but they were really plummeting here, the sense was this was a reflection of recession concerns and growth concerns going into the second part of next year for sure i just think we are in a place where there's technical issues around bond markets and keep yields higher than people expect and some will make the fed's job
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more difficult i just -- it gets back to the things that karen and dan are framing, nothing really changes as we get into next year we have a fed that's higher for longer, still has to be very aggressive you have possibly the last central bank and the world to capitulate cpi which was the october cpi to the december cpi which is november's, we had a 40% rally in semis, 17% rally from the low to the intraday highs of last tuesday so you had a massive rally and then we had pulled back 7.5% from that intraday high on the cpi last tuesday to the lows we hit on -- excuse me, tuesday midmorning so i think, you know, that was a big pullback today's consumer confidence number not the reason why the market rallied karen and dan talked about the vix. i think if anything people are squaring ahead of a very quiet period volatilitywise. >> nike closing 12% higher what do you make of it
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retail will make a big comeback? fedex results better than expected we have another day to digest it and look at the rally. just for nike alone today. >> yeah, i mean nike to me it's nike specific. i don't think it's a huge tell on the consumer. retail is challenged in certain areas. others have done well for the last 18 months i don't want to throw cold water on today's rally the market could clearly levitate into the end of the year we saw it happen last year after, by the way, the fed pivoted in november of last year, the market still behaved somewhat, i don't know, for me it didn't make a lot of sense but that's what it did towards the end of the year. i will say that the higher we go into year end i think that means, the larger we have to fall into january, february of next year, so good numbers out of nike. nike specific. fedex finally got their act together good for them. boeing we'll talk about. that was a driver as well. good for them but these to me
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these are all sort of very stock specific things. i don't think it speaks to a broader economy getting better any time soon. >> what setting up for that big fall in january and february what are you seeing? specific earnings -- >> yeah, i'm not trying to cut you off. the risk we've been talking about for awhile, earnings are slowing. earnings growth are slowing. margins continue to deteriorate. again my opinion dan just mentioned crude oil seemingly getting off the mat. that's not necessarily a good thing and makes the fed job more difficult. you're seeing analysts take down s&p 500 earnings estimates mike wilson is as low as $180 a share for the s&p. you got to put a multiple on that and that suggests the market goes lower, so, yeah, i understand people want to be optimistic, i left my pom-poms at home a long time ago. the backdrop isn't that bullish to me. >> earnings estimates are coming down and margins are tightening up but the dollar dropped which
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is a big factor weighing on that, q4 loan dollar down 7%. >> no doubt for multinationals, a tailwind been a huge headwind for the better part of this year, year over year the dollar is still up what are some of the impediments to growth? look what's going on in china? a big narrative, part of the bull case for the better part of this year for people trying to pick a bottom. at some point they will come back online that will restimulate the global economy that doesn't seem to be the case when you think about just like this press conference that we're just listening to with biden/zelenskyy. that war is not going to be settled any time soon so you have a western europe that's likely to be in a recession aerovironment for some time and then, again, guy's point is that all of these head winds to u.s. corporate earnings even with the dollar that's come off a bit ultimately we haven't had that reset as far as what was maybe a trough valuation, we know we're
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still probably too high. once we get a better sense as we get into q4 earnings in the back half of january into february, i think we have a better sense of where 2023 earnings bottom out and that's when the analysts can say, okay, i think we've discounted a lot of head winds we'll see. >> let's bring one more voice in our next guest believes we'll get a santa claus rally that could last into january. nancy is here. she's the firm's co-ceo and senior portfolio manager nancy, thanks for joining us. >> thank you. >> nancy, spell it out for us. what is setting us up for this rally? does a santa claus rally start in the buildup to christmas or the week after and where is the catalyst, once again >> we think the santa claus rally starts right after christmas and tends to be the most dramatic period will be the week right after christmas and that first week in january before we start to hear any news about the disease quarter and
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the catalyst is really the traditional end of selling, reversion to the mean and just the lack of news which can drive the enthusiasm going into next year so we think we will see particularly in the small cap sectors that we get that santa claus rally. what will continue it is the fact that things, we believe things are changing. we believe that the market is coming to grips with a world that is going to be very different for the next couple of years in what we've seen for the last 10 to 12 years and what i mean by that a world led by industrials, a world led by manufacturing, a world led by things as opposed to a world led by the internet, by media. by technology, so it will be a different market but it could be a good market. >> yeah, fun fact if you believe the santa claus rally is the week before christmas the last two years 5% in 2021, 3% in 2020 if you are a believer in that. january effect
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what do you think is setting us up for that effect what is oversole and what in your mind will set it up for them to no longer be oversold? >> we've seen tremendous weakness in the smaller cap sectors of the market and the small cap market, the small cap stocks we believe are much more than adequately discounting the recession. that we are, in fact, likely to have small cap stocks are not only selling at extraordinarily low absolute multiples with a multiple on the order of 11 1/2 times on the russell 2000 it's selling at a 30-year low relative to large cap stocks we think that is way overdone particularly in an economy again that will be led by the kind of factors that tend to be favorable for small cap stocks where the earnings growth in the sector can greatly surpass that but which we will see in the larger cap sectors fundamentals are going to matter next year. revenue growth is going to matter margins will matter and making
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money and returning that to shareholders will matter and that's all good for small caps. >> nancy, one last question, you're not so bullish on the s&p because of tech. you believe the valuations are still too high a lot of people think the valuations are attractive. certain parts you think are too high a lot have been basically been cut in half. >> the valuations have certainly come down dramatically from where we were. having said that they are still too high and talked about how the multiple on the s&p is still about 18 times next year's number which may be too high a number we are seeing weakness broadly in tech and seen it in software and semis. and the issue we believe with tech is three cs, capital, it's competition, and it's what i would call complacency the sector is overcapitalized with all the venture capital money that's gone in there that led to competition leading to slowing sales cycles, as well as some slowing because of
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overspending and the pandemic and there's been complacency in these tech companies they have's had it so good for so long they've been able to pursue growth at any cost meaning they could spend whatever they wanted to on sales and marketing and that complacency is coming home to roost and get their fiscal balance sheet in order and as that happens and then as sales start to rebound, then that will be the time to look for tech. >> nancy prial thanks for being here. happy holidays. karen, i'll come to you. a lot to digest and talked about a lot of different things. one part you want to trade >> yeah, i think the part she talked about complacency is eye good one she was saying, they've been able to just grow so easily that spending was sort of an afterthought and definitely seeing that change and so i think that's going to be a catalyst for, you know, the googles of the world and if meta makes a bigger shift even in cutting spending, think that's
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easy money for them. we're seeing microsoft slowing hiring so that's going to be a potential tailwind for some of the big cap tech names that have gotten hurt. >> coming up next on "fast money" an airline topping the tape could be the best performing dow stock could it fly higher? up, much more "fast money" coming up. ♪ ♪ a cyber-attack can grind everything to a halt. cisco security keeps your company moving forward. because if it's connected, it's protected. cisco.
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if you wanted to hold my hand... because if it's connected, it's protected. [ gasps ] all you had to do is ask. i am down to my last life. when you only have one life... that's what makes it special. go get 'em tiger. welcome back to "fast money. boeing soaring 4%. the ceo of their commercial division telling suppliers that the company is seeing strong signs of, quote, global market resilience according to a memo retained by reuters.
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up almost 62% since october. the best performing dow component during the period. how much more fuel is left in the trade, guy i'll come over to you because i dropped a bunch of puns. i know you appreciated them. >> tim has been all over it and it has rallied significantly my concern about boeing is valuation. even if you give them $4 of earnings next year which is generous it's still trading close to 50 times earnings expensive. it wasn't expensive a few months ago, they are now. they can grow into them. you have to ask is this run going to sort of stall out when we do a back and fill? i think we will. i'll say i thought we would do that 8 or $9 ago. >> tim, you're the boeing person hearing a lot about boeing actually four different or jvariations oh max. going into fiscal year 2025, a stat, 50 million for each plane,
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10 million is free cash flow off each sale. pretty impressive numbers. >> it's a cash flow story, favre. that's what it was when the stock was 350 and despite all the sadness and tragedy around these max 7 crashes that hasn't really been what's derailed the company. covid did. if you listen to the november book update not only were there 15 more planes than a year ago but 787s their most profitable plane there was significantly more the boeing story is about free cash flow and this max certification kind of extension they got in the omnibus bill was good but, remember, this is duopoly. if you think airline industries will reaccelerate you're owning boeing. >> i know we're talking about the bill and tailwinds but in general this whole max story has been troubling and goes back to 2019 we don't have to revisit the tragedy there but going forward, what do you see as the outlook for max when it's so important to this company's free cash flow, their targets and other
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metrics important to analysts? >> it's important to all the major airlines as well they have to replace aircraft and we know this and this is what they're all talked about and i listen to what united said and delta had said specifically and those are pretty bullish ceos right now so, again, the story for boeing's share price is not really about the sadness of the max tragedy it's about a company getting back to being the company that's well run and has 25 to 30 bucks of free cash flow per share which is what they had which was a 10% cash yield i think they'll be there in two years. >> southwest anticipating a lot of maxes. up next if you bet on out of favor energy stocks, beating down industrials or big pharma you hit the jackpot. the question, can you let it all ride again in 2023 we'll pull our pit boggss. later, a bruising ride for tesla bulls lately for those holding out hope,
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money. stocks higher for a second day in a row dow rallying 526 point, the s&p and nasdaq also posting strong gains under armour lower on a new announcement hiring stephanie lennar to replace brown who has had that job since june. karen, this one caught your attention. >> yeah, it did. i think that, you know, kevin plank was the founder or co-founder and is obviously a sort of big presence there and it seems like that is going to be somewhat of a partnership with the new ceo that historically has been a difficult combination of having, you know, steve jobs and john scully and shultz and sandy weill and john reed. they have a lot of work to do. i think it would probably be
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better if she were there alone >> six trading days left can some of the big winners keep on winning in 2023 it's time for a holiday twist on america's fast market game show. >> wrap it or scrap it >> there's no sound? >> just wrap it or scrap it. >> wrap it or scrap it i was waiting for something. all right, let's get right to it ex-amazon mobile as one of the top performers up 77%. wrap it or scrap it? >> scrapping it. xle, it's gotten pulled back i'm just not a fan of riding these winners into the new year. they've been great winners and might continue but not for me? we got sound effects tim? >> yeah, those are some sad children hearing dan scrap it. i'm wrapping it and wrapping it not on an ail price. >> yay.
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>> i invest in oil companies on how well they're run and think about where exxon pays their dividend and clears the rest and capex in line, energy companies are waiting for the s&p to go higher. >> big pharma play merck trading around 52-week highs. wrap or scrap it >> wrap it i mean if you went home, it's the same as wrapping it. i like it. >> yay. >> i still think the valuation is attractive so hanging on to it. >> dan >> great year as karen said. it's on a runaway breakout trading at an all-time high valuation pushing some of its historical expensiveness here so i don't think you buy a name like this -- >> aww >> and then maybe reload. >> why do we have to see kids sad? heavy equipment maker deere, the stock bouncing back from a revenue miss earlier this year,
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guy? >> scrap it. i'll give time for the audio >> aww >> and it's got nothing to do with valuation it's reasonable but the stock has rallied 5-0% since june trading up against levels we last saw in march. a big of a double top. if the broader mark will roll over deere won't be spared scrap it. >> karen >> yeah, you know, this is a tough one for the reasons guy said not crazy expensive so i'll break the rules a little and regift this one to someone else. >> oh. >> i don't have it >> aww. >> i think this -- >> i don't know if you can do that >> all right next up, las vegas sands un-25% this year. the casino stock has a big footprint in asia where covid is spreading. tim, wrap it or scrap it >> i know who those two children are, maurice, and that's right they are cute. i'll wrap this one and i'll tell you that --
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>> yay. >> -- going to be a bigger gift than it was in '22 and '23 concession renewals are important and massive real estate position reinvesting in the economy there. the fact that the china covid rules are easing, et cetera, most importantly the valuation here, you're stealing this company down two-thirds on its ebitda multiple. >> uncle tim loves the kids. guy? >> wrap it >> yay >> as do i little delay it comes down to valuation and at some point obviously china, the zero covid will go away. that's what we've been waiting for. in the meantime, wiynn and las vegas sand, you stay with them. coming up, tesla stock almost rebounding after yesterday's big sell-off and one options trader is betting a bullish move is justrod aunthe
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all right. welcome back to "fast money. tesla unable to hold on to early gains falling for the fourth day in a row despite weakness one trader is making a big bet that tesla can
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rebound in 2023 and guess who it is, dan. >> i'm not the trader who made the bet but i get what's going on it is down 67% from its all-time high made 13 months ago, total options volume up 1.3 times. average daily volume and volume in the weekly 140 calls and 135 puts was just kind of off the charts but one trade that really caught my eye. it was a trader rolling down and out. they had already owned a big block of the january 166.67 calls and sold 12,500 to close at $3.05 and used some of the proceeds to buy 12,500 of the february 160 calls paying $8.35 a. i net debit of 530, about $6.5 million in premium and that trade breaks even if tesla shares on february expiration are about 20% from here and this stock has massively underperformed the broad market and keeps making new lows today.
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a market is up 1.5%, this thing can't close higher so this trader had a previous bullish position rolling it down in strikes but out a little in duration playing for a move above 165. >> sorry i mixed that up i don't write this stuff beyonce doesn't write all her stuff. guy, go ahead. trade it >> ait beyonce doesn't write her own stuff? >> neither do the stones let me just -- >> i think dan would say you don't press shorts like this with the move we've seen to the down side. we've seen incredible volume in tesla which suggests to me at least short-term capitulation and think the stock -- the next 12 to 15% of the stock i think will be higher before it continues its path lower so i like the trade i think it probably does pop in the short term. >> let me ask you quick. anybody can jump in on it.
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the tesla model y model three available for tax credits starting in january, how big of a story or tailwind is this for the stock? >> i don't know who that is going o? >> twitter is the bigger story. >> yeah. >> you think so, karen just him getting out of twitter? >> i do. yeah, the sentiment around him and the distraction and the provocation, i think that's part of the story but i agree with guy and dan, this is due for a bounce it's been an enormous downtrend and may still be in a downtrend. this is so bad it's good >> we need the rapid sound effect everybody agreeing tune in to the full show friday at 5:30 eastern. i'll be there. still to come could a netflix sequel be better than the original the street giving them more positive reviews despite lackluster performance fro their ad pricing tier. our own screening after this stay with us
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welcome back to "fast money. netflix up higher than 3% today. they named it a top pick for 2023 with a 340 buck price
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target tim, your take >> well, my view there's been disappointment on the avod and until you square away the password crackdown you won't see any major migration over to the ad supported model i think the valuation is very interesting. i think profitability netflix is finally something that you can actually hang your hat on and is upgrades and where the street is on this is exactly where mark is and i like it. >> dan, a lot of disappointment, i guess, in the ads supported here. >> so early. they rolled this out so quickly. if you think about the secular like trends towards what they're doing but the near term head winds about it, i think the stocks rally like 75% off lows creates a situation where you will be disappointed but i think it will be a story that probably unfolds and is probably a pillar of the case in 2023. mark was all over this so i kind of like this call and would like to see it pull back before you got long for, let's say a. a
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2023 rally. >> coming up next on "st money" your final trades stay with us ♪♪ for skin as alive as you are... don't settle for silver. harness the power of 7 moisturizers & 3 vitamins to smooth, heal, and moisturize your dry skin. gold bond. champion your skin. ugh, this rental car is so boring to drive. let's be honest. the rent-a-car industry is the definition of boring. and the reason can be found in the name itself. rent - a - car?
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you don't want a friend. you want the friend. you don't want a job. you want the job. the is always over a. that's why we don't offer a car. we offer the car. ( ♪♪ ) sixt. rent the car.
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♪ ♪ a cyber-attack can grind everything to a halt. cisco security keeps your company moving forward. because if it's connected, it's protected. cisco. welcome back time for "final trade. around the horn, dan, you're up first. >> this is the time of year to
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start thinking about what could work next year expedia looks like it's discounting a lot of bad news traded nine times earnings and trading at like a crazy multiple of sales and feels cheap at 52-week lows >> guy adami >> i'm really upset about this beyonce stuff. you telling me she doesn't write -- then you tell me the rolling stones don'twrite thei own music, i thought jagger and richards were the great singer/songwriters of all time bumming me out what's making me happy is the people at the grasshopper in morristown watching "fast money" and las vegas sands which i think will continue to go higher >> wow, shoutouts. karen. >> yeah, thanks for being here, frank. i find myself in the unusual position of agreeing with pretty much every single word that came out of dan's mouth highly unusual i don't usually agree with any of his words but so netflix, my final trade, sells some upside
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calls and had a great run, probably pulls back some >> tim, final word >> frank, thanks for joining us puns and awe, boeing, let's wrap it a lot of room, up to 220 one of the best out there and i think you can stay in this trade. >> thanks my mission is simple, to make you money i'm here to level the playing field for all investors. there is always a bull market somewhere and i promise to help you find it. "mad money" starts now hey, i'm cramer. welcome to "mad money. welcome to cramerica other people want to make friends, i'm just trying to make you a little money my job is not just to entertain but educate, figure out how days like today could happen so-call me 800-743-cnbc or tweet m me @jimcramer. you know why i love the


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