Dose of downgrades today, well find out if any of our traders are touching our stock shares are lower right now as the companys Conference Call is underway well break down any of the big headlines that come out. We begin with an historic collapse in energy prices. Oil falling below zero dollars a barrel for the First Time Ever the main contract tumbling more than 300 to around minus 36 a barrel yes, minus 36 a barrel. The more actively traded june oil contract also falling hard in todays session look at what happened to some of the energy stocks. The etf held up. Are there stocks that are presenting some big opportunities in this crude collapse guy adami, could we be seeing some sort of a sign of a floor for some of these equities wait a second, we dont just go right into the show i think the last time you were request us was probably december 5th or 6th, is that right . Yes here we are december 3rd, were back april 20th, youre not going to say anything. I dont want to speak on behalf of everybody but on behalf of everybody, welcome back brian did a great job, courtney filled in a bunch of times, this is your show, and its wonderful to have you back what was the question . Could the good price compare to the bad price action we saw in the actual contracts, tell us there could be a floor in the equities coming . Yeah, personally i dont think so youve had huge moves, i mean, exxon mobil went from 30 to 46, chevron went from 50 to 84, youve had some pretty outstanding move in those names, now theres a time where we start to give it back. We dont want to get into the minutia of the may contract. You look at the june contract, that was down 14 . If you dont think this could happen again, it could absolutely happen again, in terms of if the situation doesnt clear itself up, and it doesnt seen to want to abate. Although the commodities in a death spiral, the fact that the stocks were unchanged today, doesnt tell the real story. Theres more pain ahead in the equities market. Thank you first of all for welcoming me back. Its great to be back. I appreciate that. Tim seymour, i want to go to you. I wonder if you might be nibbling if you might be nibbling on some of these equities. Thats me clapping you in thank you, tim. Nibbling is the right way to do it, i dont think this is time to be making a wholesale allocations to the Energy Sector the xle which is essentially the Energy Select etf which is chevron and exxon is up about 20 . Over the s p 500 since the low in the market. The energy has outperformed i know off a low base. Ive talked about schlumberger, that makes them more investable. This is not an environment to get excited. I think whats going on in the Energy Market where oil traders are being paid to find any place they can store oil are hitting their tank tops and thats not a reference to what guy wears to the gym its a case where literally were out of storage and i think thats a case where the industry itself is a selfcorrecting mechanism. Theres always a supply response if youre an oil trader and its good for you, why isnt it good for investors that are going to be there tomorrow. This isnt buy with all hands, this is yes, there are Companies Like schlumberger and chevron that are going to be here tomorrow and then some when oil prices are going to be higher. You cant unsee guy in a tank top. This is a family show. Indulge me if you will the Production Cuts that were agreed to by opec plus go into effect in may. Could we be seeing some relief for wti coming i also have to say i am so thrilled youre here, you cant even have any idea how happy i am to hear your voice. I dont see you, but i imagine you look great welcome back the question, is there anything to be optimistic about in energy in may yeah, the Production Cuts that opec agreed to come into effect in may. So opec agreed to it, and russia agreed to it, you know, you got to forgive me, im not fully on board with believing thats going to happen even those Production Cuts were phased in and decreasing over time guy has made this point many times. He can make it better than i but they want to see us in pain, opec and russia. Why would they step off our necks when theyre seemingly about to break im not looking for anything in the oil space. I also think that some of the energy space thats been a beneficiary like the tankers, those are up so much theres risk that if there is some kind of real Production Cut and demand improvement, that those will collapse. I think theres risk either way, i havent been active in this space. Dan mel, crossroads, they seem to come and go, but youre back and were very happy about that, i want to leave it back there. Tim mentioned a dividend cut in the equities, the way i see it, you have exxon and chevron that make up almost half of the energy etf youre seeing those dividends get fat as those stocks go down. Chevron is down 38 in those two respectively, and maybe it really is the bottom comes, the capitulation comes in some of the majors when you really start getting chatter about a dividend cut in those names, maybe thats the opportunity to buy them. I would also say, one thing to go in for the dividend the other way to play it on the short term basis would be that xle, it doesnt seem there yet youre shaking your head, tim . Well, theres no way theyre cutting the dividend at exxon, theres no way theyre cutting it at chevron, this is something theyre hanging their hats on. The reason i like chevron is not because im fired up about fundamentals, this is a Management Team thats been returning, according to free cashflow over the last three years, they didnt just wake up today and understand the dynamics in their industries theres no reason to buy a stock in my view, i think weve all said that at different times and places its not why i would own them, theres no way theyre cutting that differ dends. Were talking about today and anything can happen in the oil space. Given the trajectory we have right now, thats not a good one, theyre not cutting that dividend it sounds like theres no scenario, theres no economic environment, no price per barrel that would cause them to cut their dividend yield were staring at a huge collapse in oil were staring at a Global Economic slowdown, and even this environment wont cause them it sounds like the dividend is teflon id like to hopefully be balanced and take deep breaths on this show, when its easy to make big sweeping hyperbolic statements Companies Like chevron and exxon have healthy enough Balance Sheets that theyre not going toe cut those dividends and theyre somewhat existential to those companies. I cant tell you whats going to happen tomorrow, but in terms of Equity Investors right now, what happened today, we didnt spend enough time on it, im not sure we want to what happened in the Oil Futures Market isnt about fundamentals, its about storage, its about futures contracts, if oil in november is priced at 32 on the contract on the close today, and its 21 in june i think i want to hold out until november, i want to hold out in the right balance sheet, im telling you that ive been investing in commodities and Energy Markets for 20 years, we see these overshoots before, and we know theres demand destruction. And we dont know where the economy is going the 16 to 18 billion that are pulled out of demand in the Second Quarter is not what were going to have in the Third Quarter and Fourth Quarter in my view own Balance Sheets you can stay in, and its a great time to invest we have this great brady bunch screen going here. Who would buy large cap integrated Oil Companies today to hold until the end of the year raise your hand . Am i alone right now . That would be only tim. Am i bobby looking up at greg, peter in. Maybe alice all right. So only tim. Maybe if youre looking forward to a dividend youre thinking, wow those fat juicy dividends, theyre fairly safe, do you agree . I understand what tim is saying, exxon, chevron, one of the last things theyd do if they had to is cut their dividend i understand that, i think something that karen said, and, you know, again, im pretty steadfast in this. I think were getting played, and i think were getting played for quite some time, i dont think crude oil or anything quite frankly is something you want to negotiate with visavis twitter or in an open forum. 40 ago, we wanted lower prices and we got them, and now all of a sudden we want higher prices and were not getting them you have to wonder whats on the other side of these negotiations in public. Ill say this again, i absolutely think the saudis and the russians are stepping on our necks and they want to see our oil industry fail. I think thats what the end goal is, im steadfast in my belief that they will lose the battle to win the war and right now, they might be losing the battle, it sure looks like theyre winning this war. Lets see how it plays itself out. The s p 500 dropping more than 4 1 2 . Our next guest says the vshaped recovery may not be in the cards just yet lets bring in tony dwar welcome back. So you think things could get worse. What makes you think that . I think we haveto make sure that we know what were talking about with the vshape recovery. Theres already been an vship recovery guess what the number one performance is coming off the low of march 23rd. To believe that because the price of oil has collapsed the stocks are at the same level they were march 23rd its had a pretty good bounce off the low. Just like health care, real estate, utilities, the thing thats interesting about the market and the way its rallied. People arent used to not being permeable. But the sectors that are rallying and leading off the market are not the sectors that led the rally off the march 03 or the march 09 low were still in the view especially given how extreme were looking for a relief rally. But not a 30 relief rally were thinking its tactical the fundamental side thats interesting, if you look at the yield curve and how many times have we done the yield curve when were on set. The treasury yield curve, everyone talks about it when it inverts, its predictive of a recession. Its also predictive of the end of the recession over the last three cycles, the yield curve has resteepened to over 100 basis points. Its currently at 43 its steepens to 100 basis points and in the last two, it gets up closer to 200 basis points before you emerge from recession. The yield curve is telling you by being so low, any recovery you get is going to be very tame so far, thats what the market is saying. What does the equity picture look like against that backdrop . So i wrote a note, and i was going to call it the square route recovery until i realized its a backw d backwards square route im lo looking at now youre in this epic battle between the fed and monetary stimulus on april 9th, when they came in to announce they were going to buy 450i yield debt, that protect the the whole 2008 credit crisis. The economic reality is on the other side of that, what i think, mel, is were going to get a pull back here and our call had been to get more offense while you were away, we downgraded our market view in january. And once the panic started, it looked like it was going to end, to get a relief rally and followed by a test of the low. I dont think its going to go back to the low. I want to become more offensive as we go down, and positive divergences develop. Karen, you got a question i do. I agree with you, tony, on your general thought that the vshape rally was probably too far too fast how far back do you think we retrace before you would say, lets get aggressive again its not the level thats really going to drive that decision, but what groups are out performing on the way down the relative performance in the sector like todays a great example, the financials and small caps outperformed you want to see the economic sector start to price in stability. Also i think you can get down toward 2500. Were going to be in this range, the problem i have is, when i look at how bank lending is acting, how the yield curve is acting, how the Chicago Fed NationalFinancial Condition stress indexes are acting, that predicts going to a total zero disaster the metrics weve talked about so many times on the show, dont point to, wow were going to have this turn in the economy once we go back to work, thinking were going to go back to work i think down toward 2500, but more of a broad range. Tony, thank great to speak with you. Thank you tony dwyer. Guy adami, reverse square route, i know thats going to take a lot of thinking on your part you agree with that . I dont even know what it five of all, i changed my backdrop in honor of you coming back to the show it looks very modern, very westin lobby. Yes, number one well, i mean there you go number two, let me say this, and i think karen might agree with this, you can make an argument that the markets down, whatever its down 15 from an all time high, stocks might be a tad more expensive than they were at an all time high, unless you factor in the fact that were in a zero rate environment in perpetuity and you have to change the multiple it seems like were three months into this thing and stocks may be more expensive. I tend to favor the tony camp, i dont know if were going to test that, but i think the trajectory now is probably somewhat lower from here, i would agree with t. D. Coming up, were watching shares of ibm. Theyre on the move, down almost 3 right now the companys cal is underway, commenting about the companys dividend well bring you all the headlines. Later, the Small Business aid Program Needs a Major Overhaul to get the u. S. Company back up and running agn. Ai what hes calling for. 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I have to echo your traders and guests, its wonderful to have you back and see you on screen no change to the dividends what was a little different this quarter, Arvin Krishna he was at the top of the call kicking it off his predecessor didnt usually dial into the call his heart goes out to those affected and he will be participating in these analyst calls. Hes focusing on ensuring that ibms customers emerge from the pandemic stronger and more resilient. Hes absolutely committed to growth for ibm as it emerges from the pandemic itself consistent growth is something she struggled to do during her tenu tenure jim car jim kafanov said ibm saw increase in this quarter for those that did engage, there was a noticeable change in priority that shifted from the stability it shifted to the stability of operation and a preservation of cash theyre seeing clients spend only on essential needs. I want to point out cloud and red hat numbers, both of these are key to analysts, which is the future where ibm wants to go both decelerated on a sequential basis. Which means they have their work cut out for them cloud is a must win for ibm and so far theyre way behind. While the new ceo is extremely bright shes not optimistic hes going to be able to turn ibm around. Thank you, deirdre. Dont miss jims exclusive interview with the new ibm eco thats tonight at 6 00 p. M. Eastern time i want to bring you headlines from that call saying the company will keep paying dividends theyre seeing somewhat of a rebound on the china business. Its all bounced back in the month of march where do youen sad on ibm . These guys were faced with a tough set of circumstances this is the stuff they were trying to do for a number of years. Its great that the priority coming out of this is going to be sales growth. I know that talking to a few friends, theyre not particularly happy that that red hat business decelerated in this quarter. I wouldnt expect any reacceleration basically ibms customers, this one had a really nice run off the low 90s, back to 120, i 12k3eexpect you i consolidate in the teams or so, down 5, 10 from here. Close to the after hours session, well keep you posted on the headlines that developed. Major bounce for biotech even as one of the sectors takes aim will netflix see a big boost . Its only human to find inspiration in nature. And also find answers. Our search to transform. Farm waste into renewable natural gas led chevron to partner with california bioenergy. Working to provide an alternative source of power. For a cleaner way forward. At t knows you have a lot of things on your mind. Staying connected shouldnt be one of them. Thats why were offering contactless delivery and setup on all devices. And for those experiencing Financial Hardship due to this crisis, well work with you to keep your service up and running. Hi because at at t, were always committed to keeping you connected. Welcome back to fast money there was a big bright spot in todays sea of red that pushed higher coming despite its biggest hold in gilead getting hit with two downgrades today. What do you make of the move i thought it was interesting in their bmo. Specifically mentioned tamiflu saying in the first year, it was amazing. 3 billion in revenues after that, it averaged 650 million in the years later i think one of the analysts for gilead was on last week, not on our show, but talking about how the took has gotten ahead of itself and where it traded up to on the back of those announcements. In general, weve been pretty bullish since youve been gone on biotech and big cap pharma has been a monster, all time highs, biogen has been a monster i think you stay with biotech here, if youve had a decent run in gilead, you projectly stay with it, although i dont think its necessarily an earnings story, biotech in general is an area you want to be in karen, you in ibb i am not. But that would be the way i want to play it, obviously the holy great is out there for these companies, and whichever more than one, i suppose many more than one could sort of cash in on it is the wrong word. I dont think were cashing in on anything. Coming up, mark cuban will be with us, hes fired up over publicly Trading Companies tapping emergency money set aside for Small Businesses i know that every single time that i suit up, there is a chance that thats the last time. 300 miles an hour, thats where i feel normal. I might be crazy but im not stupid. Having an annuity tells me that im protected. During turbulent times, consider protected Lifetime Income from an annuity as part of your retirement plan. This can help you cover your essential monthly expenses. Learn more at protectedincome. Org. Election back to fast money, shake shack getting a jump today. They now plan to return a 10 million federal loan it received under a Small Business relief package. Shake shack plans to return the money there are other publicly traded companies that have applied for aide under that pay trek Protection Plan owner of taco cabana, all publicly traded, all getting millions of dollars in aid through this program meant for Small Businesses lets bring in mark cuban for more on this and much more great to have you back. Is it fair for publicly traded companies to take some of this money from this limited program when there are so many Small Businesses out there who are waiting in line in. For Corporate Headquarters, no for individual franchisees, i dont have a problem with it the Corporate Headquarters have different ways to approach this. They dont need to take money that should be available to really Small Businesses. Congress right now as we speak, mark, theyre working to expand this program so that more businesses can get help. I know on squawk box last week, you said the banks should write the checks and ask questions later. How do you think this next tranche should be released how should it work look, every day matters and thats part of the problem, it should have been out long ago, and so the reality is, as much as everybody wants it to be fair, its almost impossible for it to be, the banks are going to work with their customers. The only true fairway is a lottery. The banks turn it into the sba or the treasury. At a certain cutoff date we have a lottery, and its a random drawing to see who gets money. Thats the only true way you can be fair. As much as you want to give it to those that are most in need, how do you judge that across banks and on a timely basis. Are we setting ourselves up for in the future, having a large portfolio of bad loans on banks books by doing Something Like that . Youre not supposed to, all this money is supposed to be guaranteed thats part of the issue right now for the banks. They dont trust the fact that whatever con veeverts to a loan portion, they will be guaranteed the administration has come in, and they decide they need to save money and they put it on the banks to cover up a bad loan. The alternative is even worse than the bad credit. You invest in so many Small Businesses youre involved with a lot of Small Businesses for our viewers out there, what is the implication here, if this program doesnt get ironed out and the help doesnt the go out immediately. What does that do in terms of how much deeper this economic downturn could be . Its really bad i mean, weve already lost time. The concept was really good for ppp. Keep people in their jobs, keep money coming in to Small Businesses so employees stay connected. We lost a lot of that. Now were going to try it again. We dont know when businesses are going to be open it may well be after the eight week term businesses still arent open and we have to start all over again theres real challenges. What we need to do, the Administration Needs to ask questions, they need to find out what they need i dont see this next tranche thats about to be approved being enough i dont want to get you tangled up in all of this, shake shack did do what seems to be the right thing, and that is give the money back, because they were able to tap the Public Markets. Publicly traded companies, they Access Capital as so many publicly traded companies would be able to do unlike Small Businesses. For all the publicly traded companies that are taking this money, potentially away from the Small Businesses that need the money, what would you say to them id say, youre doing it the wrong way, youre going to kill your brand states give the money back not because they didnt want the money, but they saw the public outcry im not saying that big restaurant hospitality or entertainment environment shouldnt have federal Funds Available to them, they should but in response to that, there shouldnt be grants and if there has to be any level of grant or loans, there has to be some renumeration to the taxpayer there need to be options, there needs to be preferred stock, whatever it is, someones got to negotiate a good deal for taxpayers. At that point in time, if you believe the market and the economy will come back, whether its a year, two years, three years, whatever it is, it turns into a good investment for the taxpayer just as, heres the money, take it, dont call us, well call you, thats not going to work. Youre hilting some of the industries that well have to deal with being shut down because of the social distancing rules in effect. And you are part of a business the nba, that thrives, that works based on people gathering to watch a live event. Do you foresee a return to normal i mean, thats a big question do i see a return to normal . Yes. Do i see it over the next 12 months for large gatherings, no. We have to get to a point where with he have confidence, protocols, not just for large venues like ours when we try to open things back up, Small Businesses dont know whats expected of them. Should you be able to walk into a Clothing Store and try on stores and if you dont like them, you put them back . Theres so many things we need to address to start opening things up. Whether its for small gatherings in retail or large gatherings in sporting events. Guys got a question for you. Thanks for being here, ho are you . I know this is hypothetical. If the nba were to come back and say, were going to restart things in july or something, you felt as the owner of the Dallas Mavericks that there was still a danger not only to your players and your administration, and your workers but to obviously the fan base, would you push back against the nba would you step in line well, weve already kind of agreed across the nba safety first. Lets use an example of any city that one of my companies is in, everyones trying to push to go to work. Im going to use my kids test, would i let my kids go if the answer is no, i wouldnt let my employees go. We have to ask you about some of your positions in the markets. And i know dan is curious to hear about your two biggest positions. Dan . Mark, thanks for being here youve been steadfast on the network. On this show, it sounds like you never sell its the one you own for the kids forever the stocks up 30 on the year, up 50 from its marlowes what do you think investors just figured out, and do you think theres a chance that after we reopen the economy, a lot of Consumers Want to buy local, they want to support their local stores and their neighbors who are working in their stores and that sort of thing do you think the stock finds a new level lower . No, i think it goes up, up, up people who werent comfortable for dealing with amazon for consumables, for food, i think theyve gotten into that habit now, amazon cant even keep up with their deliveries. I dont think thats going to slow down at all the greatest fear factor is going to be going back, not necessarily to the Grocery Stores i literally am just leaving our local grocery store. But to the small to medium sized business, because they dont know what protocols to put in place. Theyre looking at doing testing. Could you imagine if they provided free testing to all their consumers . Theres so many touch points that they have that are positive that, i mean, i think its only going to get that stock is only going to go up im not going to predict when, how or where but its going to go up. Are you finding any values out there . I did originally, im about break even, im a little bit up on it, i have my netflix, i turninged out to be really lucky there. And beyond that, im just waiting. Im just not as confident add everybody else that this market has found a base we can go a little lorraine ill be waiting the other side of it is, in the private markets, theres going to be even more bargains while the Public Markets because of the fed there may be a fed put there that protects everybody. The private markets are going to be a mess. And im also trying to keep some cash there for that. What sort of product . Well, some of those things, yeah, but Small Businesses, medium sized businesses. Even Large Private Companies that are looking for alternative funding, real estate, private rates, there are so many Different Things that i think are going to be cash short. You mentioned rates are you concerned about the Real Estate Market . And what area are you looking at, commercial, retail, storage . Im just looking im trying to get a feel for what america 2. 0 is going to look like we dont go back to business as usual. I think our large companies, if they bring back 70 of their employees, i would be thrilled to death, medium sized the same way, theres so many variables that i just i dont want to rush into anything theres a lot of speculation into warehouses, refrigerated warehouses theres so many industry specific things i want to take a look at. I want to get a look at the upside first thanks for your time, we appreciate it. Thanks for always having me on and congratulations and welcome back lets discuss, mark highlighted in the last couple minutes something were grappling with, what does america 2. 0 look like. Where do you look for the bargains, for the business or the industries that will thrive in this new normal that were going to enter eventually. Karen . Where do you go . Hes throwing out a lot of threads there. Right, well, i think there was a huge opportunity obviously, a couple weeks ago, that has been that has disappeared because of the giant market move. One name that he mentioned is live nation. And you couldnt be in a worse spot right now, you have concerts and ticketing, right . This is a terrible spot to be in i do think about a year or two out. Summer is the biggest quarter of the year for them. Its going to be near zero if i think about a year or two out, concert goers will return if you think about the demographic of who their customer is, is thats a younger person who i think will be much quicker to get back to normal, i think that concerts will be in america 2. 0. America 2. 0 what does guy adami see in america 2. 0. Ill be 75 at that point. For me, its going to be about health care. This is something we talked about for a while. I think karen, tim, would agree. I think the banks, people are trying to struggle with, j. P. Morgan had a week. I think you want to be in some of these banks, jpmorgan specifically i heard what mark is saying about amazon, if i were trading the stock, i think you absolutely have to take some money off the table into earnings which i believe are on thursday hes probably right in the long term, theres some chance to take some profits in the short term what areas . He mentioned rates and different sorts of rates and so on well, it sounds like hes fired up on cloud and automation and achltd i the other side of what he said, it sounds like a lot of people are going to be out of work. Businesses are not going to be hiring back where they were. Walmart has been so defensive, and theyre the biggest shop for consuming in this country. They have the most composure to the consumer, and i think to have rallied to all time multiples is scary to me that is one, ill take the opposite of what he said, and say negative for walmart shares of disney on mr. Toads wild ride today what are the analysts saying, and do our traders agree the white house is holding a briefing on the coronavirus right now. Were going to monitor that and bring you any headlines as they come on. Were going to talk disney getting two downgrades today theyre dropping theirbuy ratings on the stock with the stock tracking for its worst year in 2008 is the pain already priced in . I think thats a question everybodys trying to grapple with if theme parks are about 30 of disneys revenues. What do you assume in terms of the drop in attendance, how long thats going to last in order to get to what the stock is pricing in i think nobody knows. But aside from theme parks think about their other businesses when you look at media companies, i dont know that anyone else is more exposed to live sports than they are. You think about cruise and broadway, their stores i mean, theyre in a collection of businesses that are right now, actually not where you want to be in so many ways. But disney is disney, and they deserve a premium multiple, they have one already and they do have debt from their fox acquisition. So i think that it doesnt deserve to be at an even greater multiple given all of the hotspots theyre in, or cold spots i guess i should say and this stock has rallied already from 83 which should probably never have been there its up considerably im concerned about this rally having come too far too fast this is a softer question, but its the ceo question, right he was thrown in at probably the worst time ever, maybe second to 9 11 starting day. And so theres the question of the management transition and how thats going to work out you put all of that together i would say disneys got a buy here i won the say shorted, but its got a buy. Do you see value here still especially since they are spending so much money on the streaming service . Yeah, look, karens highlighted, you hilted its 38 of revenues, but you cant tell me this hasnt been priced in at least the next 18 months in terms of total disruption of that revenue stream. This was 153 stock that traded down to 83. This was a stock that did nothing for five years, then started to rerate on disney plus didnt we just get numbers a week ago that said they had 50 million subs already through four months . Why did they not get the benefit of that multiple of net kplichl, which is trading even for itself, in this environment where everybody says streaming is probably worth more this doesnt make sense to me. I think disney has taken a lot of pain in terms of what we know to be their core Consumer Products business i dont see this happening on an efficient basis to other stocks. I like disney here i havent asked this question since at least december third. Would you rather guy adami, would you rather disney or netflix . I love this game. With a larger market cap. Netflix. Why quickly because netflix i mean, netflix, the first move, they probably have a seven year advantage, they dont have the i understand what tims saying to me the drags are significant and to be bullish, disney here, at 83 it priced a lot, and at 105 not so much. Disney here in my opinion, you have to think that somehow the world is back to some semblance of normalcy in the next six months im not confident that people are going to be flooding back to mr. Toads wild ride when things clear up netflix to me has been the monster that 418 level was huge. To answer your question, netflix. I know the hall of president s is your favorite ride, guy second favorite one trader is making a bet thats great to hear your voice. Netflix is implying a move thats above the 7 or so that it averaged over the last eight quarters, i dont know that the last eight quarters are relevant for volatility one of the trades we saw that i thought was interesting was a big purchase of the june 475 calls. That works out to almost a Million Dollar bet the stock could be above 500 i wonder how you would say neither netflix was already trading as tim was alluding to disney plus is growing fast. I think if youre going to make a bullish bet. I like it, breaking the rules. Be sure to tune in to the full show coming up, the stocks are kblazing today, today being 4 20 yes. The first word to any adventure. But when allergies and congestion strike, take allegrad. A nondrowsy antihistamine plus a powerful decongestant. So you can always say yes to putting your true colors on display. Say yes to allegrad. To putting your true colors on display. There are times when our need to connect really matters. To keep customers and employees in the know. To keep business moving. Comcast business is prepared for times like these. Powered by the nations largest gigspeed network. To help give you the speed, reliability, and security you need. Tools to manage your business from any device, anywhere. And a team of experts here for you 24 7. Weve always believed in the power of working together. Thats why, when every connection counts. You can count on us. What do you look for when i want free access to research. Yep, td ameritrades got that. Free access to every platform. Mhm, yeah, that too. I dont want any trade minimums. Yeah, i totally agree, they dont have any of those. I want to know what im paying upfront. Yes, absolutely. Do you just say yes to everything . Hm. Well i say no to kale. Mm. Yeah, they say if you blanch it its better, but that seems like a lot of work. Now offering zero commissions on online trades. We charge you less so you have more to invest. Since 1926, nationwide weve been there in person, during trying times. Today, being on your side means staying home. Nationwide office of customer advocacy. But we can still support you and the heroes who are with you. Were giving refunds on Auto Insurance premiums, assisting customers with Financial Hardships, and our foundation is contributing millions of dollars to charities helping with covid19 relief. Keeping our promise to be on your side. With oil plunging into the negative territory for the first time until history, i check in with robin hood. Welcome back to fast money today is april 20th or 4 20. A major day in the marijuana world. Pot stocks blaze higher. Names like cresco labs outside of todays pop, its been a pretty rough year for the pot stocks a number of names a Portfolio Manager also sits on Advisory Boards for cannabis companies. Tim whats your outlook for the space. Especially as they look like they put in some form of a bottom in midmarch. Big day for the big lebowski, mel. You have a case if you look at some of the symptoms, call them the bell weathers in can in apy. Its flat to the s p probably all the way back to november the good news for the sector, 2. 0 in cannabis means 2. 0 Management Teams they are now actually shuttling on production. They are forget this Global Expansion thing. Theyre focused in the u. S. , they reupped their profitable enterprises. Theyre writing down bad assets and its a team run by a former fortune 500 cfo. I think not all companies are created in cannabis. The big publicly traded ones these companies are very close if not at adjusted ebitda ability. A lot of pain in the sector. Management teams have moved on the top line has improved dramatically in 18 months. Its gone from illegal to now essential, if you think about it, i think all of those are the reasons why a lot of investors lined up to buy, and now the evaluations that are very different. I dont know this reference hes the dude oh, okay. That skblar phis things. Lets do the final trade, while we have you on the phone lets start off with you. Disney. I have to fight my corner on disney, this is a medium term if not a company you can own right now. Dan, final trade . Yeah, this is a complicated case, a lot of ins and outs, a lot of what have yous. I think you share the etf. Karen finer manning, what do you say . I think karens frozen, one of the great side effects of doing this remotely from home. But guy adami, i know you have a final trade . Yes, i do you want to share it. The big lebowski is about bowling. I tell you, take two interactive. Back to you. Mad money with jim cramer starts right now my mission is simple, to make you money im here to level the Playing Field for all investors. Theres always a bull market somewhere and i promise to help you find it. Mad money starts now hey, im cramer. We will come to mad money. Welcome to cramerica other people want to make friends, im trying nike you some money my job is not to entertain, but educate you and put it in context. Call me, 1800743cnbc. Tweet me at jim cramer no, oil isnt worthless. Not every brick an