When the stock moves on it and it did so tim, whats your take on the action of wells fargo and whats your take on a possible m and a deal. Well, this kind of news, first of all, this rumor was out a couple of days ago in the market and the Market Participants didnt do anything with the move because we talked about the down move. This deal makes a lot of sense when we talk about the environment over the last couple of years for both of these players. I think this deal would be a ridiculously difficult deal even if were going hypotheticals to get through on the regulatory side i dont think either one of these have a lot of friends in washington i do think and again, this is not me saying that this is just my sense of where this would be, but look, i dont think this deal is going to happen i do think goldman has continued to build out their retail platform in markets. I think wells fargo has a lot of issues that im not sure goldman would want and the move weve seen and this snapback today is more in line with the banks. I think this news has been out there and you could have heard this news a year ago 11 low in shares of wells fargo in general aside from todays move, but when it comes to regulatory issues, not only do they face regulatory issues in terms of the ethical volations and the ethical problems theyve had, and theyve also got 10 and more than 10 of the markets for deposits already which makes it a very large player. Right i dont know how much goldmans deposit share must be much lower than that. Both stocks you cant do a cash deal this big, right . Wells fargo is significantly bigger and the market cap which is 98 billion and is at more than a decade low and is significantly bigger than Goldman Sachs market cap they would have to do stock. Theyre both trading at well below tangible book. Its hard for me to have the wells fargo board think, you know what . Now is the time for us to sell that just doesnt make sense to me, but i get what tims saying is right Goldman Sachs wants to sort of remake their business and have more of a commercial Bank Franchise than they do, but this i find really farfetched. I think it was just this has been the worst performer of the banks. So maybe if were in a bank rally it certainly has the most room to the upside. Theres also a lot of concern that some of these banks may be forced to cut their dividend wells fargo was named as the number one most likely candidate by kbw in a recent note because they had one of the payout ratio, and it was north of 8 and they have a few other regionals on that list and citizens financial as well as others and you can see wells fargo head and shoulders above the rest and citi is 4. 9 and a lot of them have 6 yields, by the way. The reason for that is because of the huge move to the downside into stocks the only way to remedy that is obviously for the stock to go higher and that takes care of itself i dont necessarily wantto go down this wells fargo, Goldman Sachs rabbit hole and the last huge acquisition goldman did was 18 or so years ago when they bought spear leeds and quite frankly, respectfully that didnt work out all that well with that said, the way to trade it and tuesday we are talking about bookmarking things and it is another bookmark day and specifically for the banks and i think finally the banks have given you something to trade against and good for dan nathan and carter for being negative, but today is one of those reversal days that you have to take a hard look at and for me, Goldman Sachs against 82 which was basically todays low makes a good risk reward trade going back into the next couple of weeks. Do you agree, grasso i have a negative on the xlf and carter got it right as far as looking at some chart work there and this seems to me a little bit of hope for pie in the sky, considering that wells fargo was at the center of the governments target and bullseye past practices and still a big problem for wells fargo. I think people are using this as a way of getting out of their longs. I dont believe the story and even if the story is correct, theres nothing really resolved on credit losses lets remember where rates are intrr. Lets remember where theyre going. Probably negative. I think the top sell is on value right now and specifically in the financial space, value has been whats been thrown out. It cannot be performed for longer than a handful of days so maybe you get a couple of more days off the bottom in wells fargo, but i would sell it we were just talking about that value versus growth, tim and today is a trend of what we did and value did nicely well, again, we had to get some kind of a bounce, and if you one of the multiples i brought up a couple of days ago, the divergence on the pe multiples on the forward basis of growth versus value and 25 times forward versus cane times on value at some point, i think you have to see some convergence, but the bounce in the banks today and im not as negative as dan and carry the have been, but good for those guys i think you get to a place here and for example, look at pnc and look at them selling their black rock stake it is 10. 6 , 10. 7 some of these banks can be very opportunistic in here, and if you look at the performance of the banks as a sector, theyre down twef12. 5 since the Group Reported earnings on april 13th through 16th and started that with j. P. Morgan thats because these banks and maybe rightly so threw huge provisions out there and some of these banks are going to be armed with Balance Sheet and im not saying that the environment changes overnight, but some of these banks are being painted with the brush and it is a good time for stock picking. Great to have you with us do you also dismiss, our traders and Goldman Sachs or wells fargo report and if not goldmanwells what other deals could there, might there be in your space yes im in the camp that dismisses that rumor as well and the reason is a couple of points first and foremost, you are talking about two banks. I dont think the regulators would allow two banks to merge number two, we are also in the middle of a reselgdz and you go back to 08 and 09 and the only types of deals that are done in recession are the distress deals and you dont price the assets of either company, very unlikely longer term, goldman, i think, looks at the model that j. P. Morgan has built and likes that model and im in the camp that i would dismiss that rumor thats not likely to happen what would goldman be interested in buying in your view what they are trying to do is theyre trying to grow Traditional Market banking business they also have the deal with apple for the credit card business and thats consumer lending. Theyre building out their transactional commercial business where theyre going to be offering treasury products to their corporate customers and theyre building up their corporate loan book. So when you look at the diversity that bankamerica has under brian moynihan, they have diversified Revenue Streams of not only Capital Markets and the Investment Banking revenues and also consumer revenues and commercial revenues, and i believe thats the ultimate goal of Goldman Sachs is getting into that type of model in thiss environment, stock picking will be difficult, and what are your top picks, gerard . I think top picks will be important because some banks will behave and work better because of the underlying credit quality and one of the best things investors can own is bank of america the valuation is very attractive and moynihan has led to the recovery in that bank and has built a conservative Balance Sheet and that is very important in this type of environment. Another bank that i think is very strong is this Truist Truist is the merger of bbnt and suntrust they have enormous cost savings coming and not only that, theyve been able to build up their loan loss reserves more effectively than other banks in preparation of the problems that the banks will have in the second half of the year. If people want to take on some risk, this pnc story has Blackrock Investment and they can build out their franchise over the next 12 months. Are there regional banks that have specific exposures to Different Industries that are hit the heest, gerard. Is that the assumption . That say really good question we know from experience if they are hit hard as the pleasure sector, we have to be careful to own stocks fortunately, neb has big oaks poeshures that could be problematic it is small and manageable, with we look at what happened i just got dropped. To me its energy and the leisure sector and none of the big banks have excessive exposure that would make us very concerned. Gerard, we will leave it there. Thanks so much for your time Gerard Cassidy of rbc Capital Markets. Some may be thrown out with the bathwater, tim i am curious if youre finding opportunities since you advocated stock picking specifically for banks yeah. I think so remember, was there a time before the suntrust bbnt when we thought there was a flood of marriages of complimentary strengths. I think you also look at the Money Center Banks and my point is that i think they were very conservative i know its impossible to know on where they threw those loan provisions up and they were certainly putting them up there in excess in many cases of where we were in 2008 and 2009 so i think not every Money Center Bank is created equal, but back to j. P. Morgan which is best of breed which has been very conservative in how theyve built this business, i think for investors that are taking a median turn view, this is exactly in a crisis like this where you get great opportunities with great franchises. Karen, i believe we know where you stand when it comes to j. P. Morgan. Are there other financials that you own . I do. I own bank of america. I think most of my money is in j. P. Morgan, bank of america and citibank also and i am starting to look a little bit at german financials which obviously have had just a very, very difficult run, but some of them are trading really like options at this point. Like which one that really caught me off guard. German financials. I didnt think those two words would come out of your mouth in that combination they rarely do, actually. So a deutsche bank, a Commerce Bank ill look at that. I havent done anything yet. I dont have positions there, but clearly weve seen how negative rates can hurt banks, right . Those are two examples, but theyve really just gotten annihilated. Theyre so cheap the value part of it makes me interested. Guy adami, ill go to you so many places to go her. Hi, mel hey, guy. Gerards top pick is bac karen is looking at german financials yeah. Its interesting i think karen would agree and i dont necessarily know if a deutsch or Commerce Bank can be a longterm investment maybe they can, and ive been pretty steadfast in my disbelief and dislike of german banks specifically and deutsch for quite some time. In terms of the bigger banks, citis trading at a huge discount to book value, i mean a ridiculous one and maybe thats trying to tell you something and j. P. Morgan, the reversal today on decent volume and percentage wise thats a pretty significant move so if youre asking me to play the would you rather game, deutsch, commerz, bac, its jpm. We have breaking news here from the New York Stock Exchange nyse president Stacy Cunningham running an op ed in the wall street journal saying the exchange will start opening on may 26th, this following strict social distancing guidelines grasso, will you be there may 26th, the day after memorial day and what are some of these guidelines im assuming that ill be there and im assuming that there will be medical testing and six feet away from each other and limited amounts of personnel from one firm to another firm, obviously facial covering and well play it by ear from there and i will most likely, god willing, i will be there as well. What have you gotten have you gotten anything directly from the nyse, goeso or is this the first that youre hearing . This is, by the way by Stacy Cunningham and published in the wall street journal this afternoon. I was not on the call my partners were on the call because we have our show to prepare for, but im sure theyre not going to allow people to travel on mass transit because theres too much gray area there and too much exposure risk there and i think it is a very controlled environment. Theyll take it one step at a time and they will not open unless theyre very confident about reopening. So they must be very confident about reopening on the 26th. If the symbol of wall street is opening, reopening, i should say, guy adami are you optimistic that there will be trading floors again, that people will be going to the cme, the list goes on and on i think well see that. I think a large part and the rally we saw today was predicated on that i think there was news out of new jersey about beaches open. I think the markets sort of got itself together on the back of those news yeah im optimistic that at some point well get back to some sense of normalcy, but getting back to full normalcy, i think were a long ways away this is a good start, but its a start. All right only. Coming up, shares of Applied Materials hitting afterhour session highs on earnings and well break down the results from the chip equipmentmaker plus casino stocks hitting the jackpot day toand well find out what is behind the move when fast money returns 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. Welcome back to fast money. We have an earnings alert, and Applied Materials on results and josh lipton has a breakdown of the quarter. Josh melissa, i covered with mitch steves that was better than he thought and display segment up sequentially a positive and the Company Still seeing Strong Demand and we also got the news that tsmc is building a fab in the u. S. And the journalist saying that tsmc will announce as soon as tomorrow plans to build an advanced ship factory in arizona and mitch steves is saying that could be announced for certain names in his semiequipment names and Applied Materials would be one of them and notably the company did not provide guidance and the Ceo Gary Dickerson saying the situation is fluid, but based on the visibility and what hes seeing now, supply chain is recovering and the underlying demand remains robust. On the call dickerson saying in q2 they were impacted by the lockdown which impacted suppliers and that particularly hit the segment and dickerson saying we are in a much better position today there are pockets of weakness and called out whats happening in autos and industrials consumer spending, he says and the potential headwind and the pandemic and we noted from a lot of tech ceos accelerating adoption and given whats happening with learn from home, bottom line, underlying demand is robust. Our business, he says can deliver doubledigit growth for the fiscal year. Thank you, josh lipton. A pretty stunning move from amat with a 5 move in the afterhours session that startsed in the early afternoonish tim, what do you think of amat theyd already pulled guidance you had some sense if you listened to the peers and they continue to say this is more of a supply side issue and not necessarily as much of a demand side and theres clearly a fair amount of uncertainty in the second half of the year and the questions about the department of commerce announcement and that creates some complications, but again, semisystems are most of the revenue base and somewhat mixed between dram and i think this is the same story with some of the semis and youve had the bricks and mortar that have traded okay, but overall semis have outperformed relative to the cyclical headwinds i dont need to do anything with this one based upon still a lot of uncertainty and if so, i would prefer Something Like an intel. Top pick in chips, guy . I think intels right and amd if you saw the move today, i think those two and quickly on amat, they see robust demand and those two to me are somewhat inkong ai incon gruous, but im not the ceo of a company you go back to the 70 high in february and the recent low and this is basically a spoton 50 correction and i think you take the opportunity if youve been in the name for the last few weeks and elsewhere for me would be amd lets switch gears and check out shares of mgm as they plan to reopen the Las Vegas Hotel at 25 capacity so could you gamble on these casino stocks right here, grasso yeah. This is one that ive stayed pretty consistent on if you have to be here theres nothing thats going to look the same we hear from restaurants we hear from airlines. Nothing will look the same you talked about this whenever we talked about the casinos and whats the tables what are the tables going to look like . What are the slots going to look like you have to play with your gut and play with what you like. Las vegas, lvs, is the one that i would say to risk it on, but i dont have to be in the casino space. I think theres tremendous amounts of headwinds the business is not going to looker inially what looker in nearly how we entered the coronavirus and who knows five years from now. You wont have the convention and conference business coming back for a very long time to las vegas. How do you think associations and trade fairs will say, you know what . Lets actually have a convention where we all get together physically and lets have it in las vegas. Guy, i dont know. If you decided today, thats still aier out yeah, and you can harken back to president obamas quick line about that decimated las vegas about conferences many, many years ago and what youre talking about is very similar and different reason, obviously. It doesnt repair itself overnight and one thing, you go back and look at wynn and wynn bottomed out march 15th and four or five days prior to that low we started talking in early april how wynn was trading well and we said that basically on nothing but just things improving slightly, this is a stock that got up to between 85 and 90 and quite frankly, youre now in the period of time that youre starting to be in the 30 reopening and im sort of with steve on this one. In terms of wynn, i think you would try to buy it back if it traded 70. Are they the same arguments that you would say thats why hotels wont do well for dwight some time. Thats yet cruise ships wont do well for quite some time somewhat. It boggles my mind that cruise ships are taking bookings for next year. I think that i dont i dont know the transportation part of getting to las vegas if we are looking at a geography or people will start to fly in the nearterm and i also wonder at what point does low capacity actually cost more than being closed you know, you have to have people there to work, and have a functioning casino, and i understand you cant open it all right away and thats off the table. I just think you are grinding toward hard times that i think will be changed for a while and a couple of years down the road, we will have conferences, and i really believe that people want to be together and they want to meet. Coming up, the Airlines Heading new headwinds today and one topranked analyst says there is still opportunity in the space. Well bring you names that could be ready for takeoff and later, gold mining stocks among the big movers today will their run continue . Fast money is back in two. Happy birthday so, it goes. Hold up your answers. How is mickey doing today . Youre just a really hard worker. [female vo] restaurants are facing a crisis. And theyre counting on your takeout and delivery orders to make it through. Grubhub. Together we can help save the restaurants we love. Confident financial plans, calming financial plans, complete financial plans. Theyre all possible with a cfp® professional. Find yours at letsmakeaplan. Org. Welcome back to fast money, delta says it could be overstaffed by as many as 7,000 pilot comes this fall. Theyve got 14,000 pilots so thats a big difference there. Phil lebeau is in chicago with more melissa, well talk about the delta story in just a bit, but i want to bring you up to speed on some news that crossed in the last 15 minutes. Rick defazio runs the House Transportation Committee and he has sent this letter to the ceos of the airlines essentially saying, keep the middle seat open you said you were going to do it, now do it, he wants the airlines to limit their capacity to 67 full. In other words, the plane would have onethird of the seats empty. Well talk about that in a bit now to the delta story and it all ties in to whether or not the airlines can function profitably and when it comes to pilots they simply have too many at delta the 14,000 pilots are 7,000 more than they will need in the fall of this year by next year, they expect by the Third Quarter of 2021 they will have 2500 to 3500 more pilots than needed. Remember, delta is currently burning through about 50 million a day and when you take a look at the Airline Stocks they are all on pace for having just a horrific first half of this year as a group, this is a group that right now burned through 10 billion in the month of april and theyre all trying to bring the cash burn rate down and its being tough because theyre not booking many passengers and right now their passenger loads are 93 compared to where they were at this time last year, and it is on pace for its worst year ever. Melissa, it will be interesting to see whether this letter from representative did i fazio forces the airlines to keep those planes twothirds full if that, because theyll struggle if travel comes back later this year are there implications in the letter where defazio is asserting you should do this and operate at 67 capacity because we loaned you money. Webailed you out he mentions the fact that they received a government bailout and he also takes a swipe at the president saying this is an illconceived plan in terms of how the airlines the bailout was structured for them. He does say look, if you have to raise your fares commensurate with the fact that you will not fill the seat, go ahead and raise the fares and i know what people are saying, go ahead and jack up a fare by 40 , 50 , 60 , if youre running an airline its tough enough to convince people to fly and now youll want to add 130 bucks a ticket . Do you think theyll want to pay that they were designed to fill as many seats as possible and now youre asking them to change their Business Model. The fares go up two times phil and there will be letters complaining about that phil lebeau, thank you, in chicago. Lets now bring in a topranked airline analyst, helane becker. I want to get your reaction about the letter from Peter Defazio from the airline ceo and they assumed they could fill the seat of the 67 capacity what does that do to the airlines thanks for having me on, melissa. Its they wont make money. Plain and simple they cant do that sustainably they can do it for a few months. They cant even do it a minute or so to raise fares and it has the effect and discouraging demand and they would be selflimiting and they would sell fewer tickets anyway that would have some middle seats open the other solution is to offer people to buy the middle seat, but you saw the reaction that got last week when Frontier Airlines did that. Karens got a question. Karen . I do. What about the regional jets that have the single aisle, there is no middle seat. What is the configuration going to be for those . Yeah. Thats a good question, karen. I dont know the answer to that. My suspicion is its like a in this row, a and d, you know what i mean like, two seats per row because i dont know how else they would do it with no middle seat. Whats the path forward, helane for the airline. Thats 50 capacity. Right right. Thats already 50 . What is the rule Going Forward at this point . There are demands that they dont pack the planes. The Business Model, i dont know if the Business Model can even work if they dont try and pack planes and then you have delta cutting back pilots. I mean, what can the airlines do in this coronavirus pandemic environment to operate and remain growing concerns. I have ptsd from that, from thinking about that so heres my thought in terms of how to go forward. This will not last forever, number one there are very smart people as you have on your programs and working on viruses and treatment and so on and it will get resolved at some point thats number one. Number two is say in the next two to five years because it will take two to five years to get back to 2019 traffic levels. When you think about that and you think about people getting back on planes lets just think about the that the idea that the first stuff has to open again and then people will want to travel and visiting friends and relatives will come back, i think, faster. I think people will travel and want to get out of their homes having been locked down for so long and you see that as the state is in. I think whats going to happen is domestic short haul comes back first and then domestic regional and hotels open, and international is probably two or three i way day away youre not going to see that International Travel and thats what youre seeing from delta, and they might be the only ones out there way plan a week ago te just went to united where thai had a scorched earth behind it. We estimate 8,000 aircraft will be permanently parked by the end of this year and 150,000 to 200,000 people will lose their job. I think the airlines are going to try to do it through voluntary means like early retirements things like that as opposed to doing involuntary leave because that is so painful for people. Right guy has a question yeah. Guy . Yeah. I mean how are you . Thanks for being here. The boeing ceo, mr. Calhoun made a comment and it was in response to a question so i dont want to go far down this habit hole, but he basically said im paraphrasing one of the carriers would go out of business or go bankrupt do you think he misspoke or do you think theres truth there . No. Thats truth there thats our concern, too, of course what we have said publicly and what we have written is you are not going to see abankruptcy this year because theres thin money given to the airlines by the government, and i dont call it a bailout i know everybody does, and i do, too, from time to time, but i look at it as an Unemployment Program thats being administered by the airlines on behalf of the government because this money isnt designed to bail out shareholders or bondholders. This money is designed to pay their employees for six months because the prudent decision if you were ceo was to ground as much aircraft as possible to promotecapital and furlough as many people as possible to preserve capital and thats not what theyre doing and not what they want to do. Can are did that answer guys question in. Yes, it does. Helane, always great to have you and speak with you thank you for your time. Of cowan and company. As people may not want to hear that, that is the truth because if you are a business and nobody is buying your product, what do you do you dont keep paying your workers indefinitely you dont keep running these airplanes. You have to conserve cash immediately and thats not what is happening with this bailout loan, grant, whatever you want to call it were delaying the inevitable and and well lay people and delaying the pain that are that hed felt and by the people woring at airlines. Also, airlines are vilified for running for profit which is what theyve done for the last five years we have to be clear, we want airlines to be more efficient and focused and helane talked about this this will come back to some semblance of normal and who can hold through and delta is the one that theyll have 10 billion bill been in cash, and demographics, their best customers and not going as far as the lower carrier and lower budget stuff and theyll go for whatever is out there and it may mean less flights and its how they survived and it will be the right strategy steve i agree with tim delta and southwest were the only ones that entered into this with Investment Grade debt across Credit Rating agencies. So you have to stick there, and with our guest, the domestic flights will come back sooner than international ual has the biggest leverage to asia, so id stay away and date and strong wens look past thian one thing that is often talked about is how people conduct business, karen, in terms of meetings not having to make that flight to wherever to have that one meeting or those three meetings, and if we are to say that things are going to change in terms of businesses and if you take that part of the equation out permanently, that is a fundamental change to the Business Model for the airlines that they operated under prepandemic right i mean, thats, you know, a big portion of the business gone but i think we talk about the equities and then theres the business so an airline can go under, right . We saw it in 08 and 089. Auto Companies Went under and yet they did survive, they did restructure they were able to continue as a business and keep people employed so im hopeful that even if we see bankruptcies that theyll still be viable businesses there underneath and theyll operate with less debt, but smaller because some of that demand has gone away guy, last thought here . Listen, history is littered with disastrous outcomes born from good intentions in term of the stock which is really why, ask it breached the lertd whatever, was volume delta really set up well today and thats the place i would look. Coming up, we are serving up a triple play of food stocks that will make your mouth water. The wild and wacky new Investment Opportunities in the ayt homework from home trade. Stay tuned california phones offers free specialized phones. Like cordless phones, phone ringing big button, and volumeenhanced phones. Get details on this state program. Call or visit and accessoriesphones for your mobile phone. Like this device to increase volume on your cell phone. phone ringing get details on this state program call or visit welcome back to fast money. Hungry for gaining well good because orders up we have a bullish trio Piper Jaffray on cmg and more people are staying at home and more people are cooking and that requires spices. Guy, which call sticks out to you . For me, i mean, you know im a huge baker as you know and mccormick is a name weve actually talked about, and i think if im not mistaken that stock made a new 52week high today and valuation is a concern without question, but ive got to tell you something. All these folks that are working about spices and baking theyre not going to magically forget six months from now. This might be one of the trends and if youre asking me would you rather in the food space which you clearly were its mccormick and get that paprika, folks. Its good stuff. I tried ordering cumin. Is sold out everywhere who would have thought, karen . Well, i wouldnt have thought. I wouldnt have known to order it in the first place, but its crazy times i went to karen because she doesnt cook i thought that would be funny. Theyre now up double digits on the year and traders are digging in on the big rally and big banks and options traders are ttg beinfor one name in the space and we have much more coming up on fast money. Tastes great high protein. Low sugar. So good. High protein. Low sugar. Mmm, birthday cake. Pure protein. The best combination to help you stay fit. Truly transformative sleep. So, no more tossing and turning. Because only tempurpedic adapts and responds to your body. So you get deep, uninterrupted sleep. During the tempurpedic summer of sleep, all tempurpedic mattresses are on sale welcome back to fast money. Shares of gold miners topping the trade with the gtx rising and now up more than 80 from the lows of the year harmony gold and newmont outpacing the market guy, whats going on here . Stay with it. Whats going on is everything that weve talked about literally since september 17th when the overnight fed repo blew up and we talked about the reasons to be in gold and now you see President Trump respectfully touting negative rates and just all of the things that are out there in terms of Central Bank Activity all steers its way towards gold so that storys not changing and Newmont Mining just keeps chugging along, every single, meaningful selloff in the last six months has been met by incredible demand, and i think you need to stay with the stocks and as much as they appear to be overdone i dont think they are, mel. Steve grasso, do you like the miners i do usually what you will see is miners will outperform the met alibi two or three to one and we arent seeing that this time around and the miners were underperforming and now theyre just starting to make up some ground so i think you have some room on this trade, on the gdx and the miners etf i think you can roll with it a little bit and to guys point, you have Central Banks around the world just printing an excessive amount of money and we always think that should translate tohigher gold prices and then it fades. This time weve never seen anything like this before and that thats why i think that gold will really have some tailwinds Going Forward not just for the couple of months, but for the next couple of years. Tim, where do you go on gold . I think all of the reasons hes guys have talked about gold should go higher i do think we have priced in this environment, however, and i do think we priced in Central Banks and i think we priced in liquidity and where it is. Im not telling you gold cant get to 2,000, but its not a Straight Line and i think the minute we start to see some recovery here and i think we get back into it and well obviously have fits and starts, but gold is something that will be one of the first things to sell off i think people chase gold often right at the wrong time and i wouldnt be chasing the gold miners here. 115 move off the bottom on the gdx and those intraday lows and newmont is the best of breed and you need to pay down some debt and i still think a lot of these miners are not terribly efficient and run well even though theyre run better than they were so im not one chasing this tree. Wells fargo surging along the rest of the financials today and options traders are thinking the run is far from over dont go anywhere. Much more fast right after this. vo our communities need help like never before and wells fargo employees are assisting millions of customers across america through fee waivers and payment deferrals, helping people stay in their homes through mortgage Payment Relief efforts and donating 175 Million Dollars to help hundreds of local organizations provide food and other critical needs. When you need us, wells fargo is here to help. Welcome back to fast money. Another check of bank stocks in todays session. Options traders are betting todays bounceback could be a step for an even bigger rally for the big banks. Mike khouw has the action. Hi, mike hi, melissa wells fargo traded more than three times its average daily total options and most of those were bullish and it was 32 and while a lot of that activity was basically expecting the move from today to follow on tomorrow with the options that expire tomorrow we did see some longerdated trading and the june 25 calls were the ones that caught my eye and they were paying about 1. 40 for those and buyers for those are betting that wells fargo could rally another 10 by june expiration we have to bear in mind, wells fargo has been severely punished and this is a way that people can make a bullish bet without risking a great deal be sure to tune into the full show that is tomorrow at 5 30 p. M. Eastern time still ahead, makeup, shaving cream and pants. How the work from home boom is sparking a whole new world of stnt opportunities well give you the trades when fast money returns make it tough to take care of yourself, thats why you can rely on natures bounty. To give you the support you need. To stay motivated keep active and sleep well. Add a little more health to your day. With natures bounty. Welcome back to fast money. Its no surprise that the shift from working from home has changed your routine, but just how much 54 of women have stopped wearing makeup entirely. 70 of people are shaving less or not at all and 75 are taking their zoom calls in their pajamas or leggings. 10 are only wearing underwear 10 only wearing underwear yeah, baby sometimes you just cant unsee things that got us thinking, what are the trades here out of this, because if this is a trend and more people are working from home, maybe they are buying fewer lipsticks, karen, or shaving blades or whatever it is. Yeah. I think so for me the trade is lululemon which i am long despite it being very expensive because it was trading like a retailer that was going to survive and do very well, and i think it should be trading like a covid winner because i mean, i personally resent wearing pants now that are, you know, more formal and who knows how long it will be like this and i see the peloton revenue, and they already had a great Online Presence already so for me, lulu lemon. I, too, am against wearing structured pants and in favor of the athleisure trend steve grasso, i know what youve got on there cant unsee it. I think you guys are right and i cant imagine. You know what those lines look like in lulu lemon and i cant imagine that well see those lines anymore, and i would probably take some profitsin lulu, and its always frowned upon based on valuation, and i think that this is probably as good as it gets nearterm if were starting to restart the economy. I love it when guys are saying oh, im going to work from home and they go on zoom calls and videoconference calls and they dont shave and theyve all got beards on. They sell razors in the store still and you can still buy razors in quarantine my shaving habits have not changed. Im a monday, thursday shaver as the audience knows nothing has changed for me im knotted up im still rolling like i used to im with finerman on lululemon, this bottomed out at 128 and if you recall joker, joker and the triple this sucker will double by earnings which means 128 to 256. Lets do quick final trades tim seymour . Double covered by a lot of makeup here. J. P. Morgan, best in breed bank, and i think again, this is one of those opportunities where youre looking at with some medium term horizon you will love j. P. Morgan here. Steve shake shack this ones trading like were never restarting the economy shake shack karen bank of america for me. Guy delta for a trade. Thanks for watching fast. 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