Recession. The dow down lost 2,400 points in three weeks and 1. 2 away from wiping out all of last years gains most other indexes already have. Your team of fast money traders to want steve grasso brian kelly, Karen Finerman and guy adami. Im Brian Sullivan guy, i dont like to use this word but is part of this market, investors, panicking no. Again, panic is the wrong word we are within 7 or 8 of alltime high. If people sold stocks given where we were is that panic . The speed things are moving is scary. I dont suggest its panic i dont think youve seen panic. And frankly the job isnt to stoke the flames of the panics its not the job to assuage concerns its our job to tell you what we nifrpg is going on with the vix at this level given the fact that people are not traveling, not going to games, schools closing, thats a fact now we talked about it last night. Thats having a huge effect on the economy and the subsequent kwekt effect on the market ill say this again, i think steve agrees, 2850 or its only human to find inspiration in nature. Thereabouts in the s p is big level. Thats 7 from where we are. And also find answers. That to me makes sense. We will get to the numbers, our search to transform. Farm waste into renewable natural gas the technical stuff going on but led chevron to partner with california bioenergy. I want to go back to the idea, karen. And i wasnt suggesting in any working to provide an alternative source of power. Way to stoke it. For a cleaner way forward. In fact be, the on opposite what im thinking karen is you dont want to buy generally until things flush out do you feel like we are or are getting close to being flushed out . I dont know. But since i am a longterm investor, i do feel like i have to be dipping my toe in the water, have to buy stuff its down a lot. You know, this is the part where you are so scared to own everything and the gut is to sell everything. What i did do today was sell all right. Welcome back another brutal selloff hitting puts thats my protection thats my insurance. Stock investments as coronvirus and yet i feel like, wow, with fears grow to economic fears the vix up here, it was 41, 2, but there is one name thats been bucking the trend in a big late in the day, that that does way. Of course Video Conferencing stock zoom surging hirer feel panicky to me i mean, think about this, we are more Companies Cut nonessential almost exactly where we were two travel and face to mace days ago at this time. And yet if we had seen flat meetings zoom up 85 this year. Yesterday, flat today and ended if you tuned into options action a couple weeks back you up here, that would have a very different feel than whats happened in the last 48 hours. Saw tony zhang call the breakout thats a difficult market to he is back to explain how you trade in can use options to get in on the but i feel the risks are just as much to the downside as they are stock on the next leg higher to the upside. Still tony. Thanks, brian i want to do a some koort natured surprise. Look back on the zoom trade we still laid out on options action a actually as we go lower and lower i think the risk of upside few weeks ago. A bullish earnings play. Smock is actually i think the problem is qb to because of the high implied volatility we were using a call your point is it panicky do you diagonal here to play a bullish feel panicky view going into earnings i think people are getting i was buying the march 105 calls panicked over the virus. I think that its im not a scientist but it feels overdone for about 8 and selling the on the panicky side of the february 28th weekly options, worries about the virus. As far as the marketplace, we 107 calls for 2. 15. Here we spent about 5 parking were down 15 to that 285 a lot 85 risking 6 of the level, smacked it on a dime. Underlying stock price for the that was the low from october. Bullish view into earnings so thats the low you have to the goal was to allow the february 28th weakly options to look at. If we break that, then all hell expire worthless thats thats what we saw. Could break loose in the overall on february 28th zoom was below market then you see panic the 107 level. The problem is you havent seen and we were able to let those a great flush yet. To karens point youre down a call expire worthless and sent out a tweet the following monday to turn the long 105 call into a thousand. This was not a flush day. Thats the problem. Vertical by selling the march you get a flush day, youre down 130 calls against it we collected roughly 4. 50 on a thousand points and then you rally a thousand points. That call option so thats confusing investors. Which brought our net trade on because no one understands what this particular trade down to changed in a 24hour period. Just 1. 5. And this is the way markets do our whole richg oh risk on this trade was only 1 of the act while youre trying to underlying stock price zoom reported earnings yesterday research a bottom. And blew it out of the water i dont think were there yet. 15 cents on earnings versus the but i do think people are getting overpanicky about stuff 7 cents expected, 188 million in they shouldnt be. Some of the giant swings revenue versus 176 as of today, what we saw was are and weve been talking about it for months. That if you did not catch the the wall street journal had a tweet to turn this into a article about it, look of vertical, your march 105 calls liquidity you would have been able to sell some of the up swings on the those for roughly 17 which turned out to be a 293 gain a upside you have etf mismatches. These are leveraged accounts that the average person has no on your investment which is pretty good on a 25 hablt to come in contact with. Move on the underlying stob. But if you were able to make i rarely come in contact with that adjustment, you are looking them but what happens is they wind up at almost an 1,100 gain on this exacerbating the move. Particular trade because of they get triggered by stops on because of the fact that we the upside on the intraday high. Reduced the cost of the trade down to, sr. 1. 35. They get triggered sell stops on i think this is a prime example of how to utilize options to a low on the intraday low and play a bullish view into earnings while risking a small that cusicks the most. Amount of capital doing so i wouldnt characterize all right whats going gone on the last tony zhang of options action. Few weeks. Thank you very much. We appreciate that youre not doing this i think. Well for more options action but i wouldnt want to kaerkz of course tune in tomorrow night this as levered products 5 30 p. M. Eastern time coming up, much more on the creating volatility in the seeing era sell i dont have market there is an Economic Impact the asian markets are about to op how should you set up . Going on here thats not to find out when we get the age j minimize the Health Impact but because people are trades coming up in a few uncertain, cancelling schools minutes. We also have the cramer cam on and not flying, that is a real mad money, jims take where to economic deflationary shock. Put your money as well we dont know how long thats of course coming up at the top going to take. Of the hour, live at the nasdaq and part of the reason why in my and ba rhtft ts. Ckig aerhi view the market is so jittery is because of the uncertainty. Yeah. How do i price that announcer options action what price do i put upon a is sponsored by think or swim by td ameritrade. Threeweek stop of travel . What about a sixweek stop of travel nobody knows. Thats where weve been wrong. I was coverage in the show notice i didnt say coronvirus fierce i said recessionary fears. People on twitter saying the virus is small and survivable. Thats very true, thankfully the markets are not down because of coronvirus. The markets are down because of the economy. And the economy is being looked hey frank, our workers comp insurance is expiring, should we at shakily because of the virus. Just renew it . Yeah, sure. Hey there, small i wanted to say that, because i think people misinterpret it business owner. Pie insurance here with some sweet advice to stop you from overpaying on 33 billion Chinese Tourists brought in in terms of dollars workers comp. Try pie instead and save up to 30 . Thirty 2018 chinese tourism is down by 95 percent . Really . Get a quote in do the numbers thats what we are talking 3 minutes at easyaspie. Com. Wow, about. And none of us try to that is easy. So, need another discount the health portion. Our job is to talk about the reminder . No, no no, im good. Financial impact and subsequent uh, yes please. Oh. Ho impact on markets. To b. K. s point, im not making ho ho, yeah need workers comp it up when i say i was supposed insurance . Get a quote in 3 minutes at easyaspie. Com. To be at a conference in chicago no matter where you are, Xfinity Mobile gives you at the end of the month of march. That conference has been cancelled. That means i dont wet get on the plane. Thats a lot of people now sporting events, museums, cinemas, you can start doing the math in your head. Fewer and fewer people are going out. Whether thats justified or not i cant say. But its absolutely real the market should. By the way, we have talked about this, in my opinion, the market was on extraordinarily shaky ground before we ever heard of the coronvirus and i think to your point, this was just a trigger to get us to where we are now but if you really think about it, though, when you start to look nobody can quantify how many quarters its going to take to get back to it. But the pushback i have is every time you see a coronvirus headline, the market does shake the most reliable Wireless Network out. Its a sort of chicken or the to connect you with those who matter most. Egg type thing fast money. When you look at what the thats because its the network that gives you the best coverage Economic Impact is on the travel and more flexible data industry and airline, hotels. Lets look at that you can share, mix with unlimited and switch at any time. The long this is where there may be if youll save up to 400 a year on your wireless bill. You know what. Lets go plus, get 300 off when you buy lets talk about american a new Samsung Galaxy s20 ultra. Airlines im not picking on american but they are theamican airlines sto Xfinity Mobile. Click, call or visit a store today. 40 crazy in one month one month. But well get people on the tweet. I was on an american flight yesterday and it was packed. Packed. True. Because the market is saying in a month it wont be. Or that flight wont exist because theyre cutting capacity so one of two things is going to be spectacularly wrong do you believe the economy in a month, karen, will be down 20, 30 . Because thats what the market is predicting. No, i i dont i think the airlines we talked about this a couple days ago have a unique business all right. The markets are about to ep up model not good in this for the day in asia. Environment where you have heavy lets find out the setup. Fixed cost own the planes, you have the labor. Those are big costs, right, that infrastructure sheri kang joining us with more oil is down, i understand jet from hong kong. Fuel is cheaper. But when you have the hi there, brian contraction in the model like of course asia kicking things off in a defensive mode. That thats worse than, you know, people not going to a new zealand the first out of the retailer gate to down 1. 7 as we speak. Thats worse. Yeah, american lost American Airlines lost and australia futures looking very united if you you are on the damaged as well, down more than radio you cant ee the graphic 2 on the spy futures as well. Guy, lost 13 today on t of and of course, when it comes to this particular market, gold 35 declines coming into today. Stocks could potentially come to Delta Airlines down 7. 5 the rescue because investors went for the today. Something safer, gold and that and were coming into a time well know more over the next few weeks. Dont discount the fact that a can translate into some resilience in gold stocks as lot of schools are going on spring break this is typically a time of year well but of course we are eyeing the when people travel as families japanese yen carefully lets see what happens there. Trading at 106. 16. Dollars sinking and investors i suspect families arent traveling like they have in the are going for the safer past lets just see. Again im not trying to stoke currency and the dollar is down more than 2 against the japanese yen so the flames. All the stim sometime in the far this year. In the meantime, though, as we markets this is a systemic are waiting for the chinese selling i have only seen a hand of of times during flash crash market to come online, in about when we saw it during the financial crisis 2. 5 hours to go from now here, but this is a systemic selling i have never witnessed and chinese stocks actually made up for all the coronvirus related systemic buying that i have never witnessed in my almost 30 stocks or losses, i should say, years on wall street. You know, so far this year this is why weve been talking about the idea. Earlier this week. I know you want to get in the that can actually set a different tone for asia. Irony of the thing is everyone keeps thinking about the next leg down is going to be when we brian. Sheri kang in hong kong see thousands of more cases that giving us a look at the open we didnt know about thank you very much. Whats your take on the asian markets here karen. The thing i find interesting, the irony is when we see the if you look at asian markets thousands more, that death rate theyve had a sharp fall and then a huge rally. Shrink thats where we see the if you overlay where the bottom in the market when we see so many more cases coronvirus case is, the growth, because the market, b. K. Is once the growth slowed down and loor looking out to that like became more linear and then actually slowed even more, so potential threat. You had fewer and fewer cases i think what the market, to me this is classic every day, the market sort of their market looked through that deflationary spiral behavior so give you example, were and really rallied hard. Talking about the airlines im supposed to fly in the i dont know if that that means we will as well. Middle of april. I havent bought my ticket yet because obviously they are throwing everything they can every day i check it, the price there. But, like we said earlier, this goes down, keeps going down. Is a president who has really, if everybody keeps doing that, thats the deflationary spiral you know, pegged his entire sort and thats what the market is of success on how the market trying to price in so how does this end does, how the economy is doing the upside to karens point, the i wouldnt be surprised at all risk here is you have a to see us throeing more than 50 president who is scorecard is the stock market so eventually there is going to basis points. And the china a shares, the be something coming from the white house. It has to be a health solution, etf is ashr pach they could one not a Financial Solution big gap down and rocketed but well get that eventually. Skyward. Look like they said to break but again nobody knows when. Out. If you think about whats going and until then you continue the on in there, whether you believe it or not, the factories are deflationary spiral. One thing we learned about ramping up people are going back to work. The American Consumer is that she and he are exceptionally investors are trying hight ahead of that. Resilient and when things pass i think if there is any place in and they will. I agree. They go back. The world besides gold you want cruise lines, down 50 to be involved i think you look at the a shares i understand theyre sort of the in this. Amazing they are the epicenter and the stock market not thing that you want to think about right now. Goes higher. Baba is remarkable quickly. Okay but i remember there have been other situations, and you look its traded remarkably well. At it. In three years are people remembering this i think karen is onto something theyre going to still book cruises. There, breye not crazy are they not and then r. C. L. And c. C. L might all right up next, your final trades look cheap. Thats not a crazy thought at not crazy all right up next, your final all. Thanks. Trades not crazy all right up next, your final appreciate it. Very good trades not crazy no what happens in the interim all right up next, your final trades in not crazy all right up next, your final trades an not crazy all right up next, your final i mean, i love to look at value. Trades at outback, steak lobster is back. Im not looking at cruise lines yet zwloo not yet. Not yet. Whats it going to take. Rcl down 50 petros year to date i hear you and karen what karen mentioned about the airlines, before we even got into coronvirus headlines, the cruise line had a bunch of headwinds thrown at it as well that could take longer than the other trade. But i agree with you and karen, at some point its a buy its down. Its getting extremely close, now 50 off. At some point unless they go out of business you are buying the equity at some point maybe thats not here. Karen says no. I dont know. Thank you for the compliment. Thats not crazy thats a compliment from karen all right the breakdown in yields raising new concerns. In the credit market as if we didnt have enough to worry. Lets bring in Steve Liesman to oh no its gone phew its back, with lobster mac cheese. Talk about this where the health its gone again its back, with shrimp now crisis, semi market crisis now steak lobster starting at only 16. 99. Bleeding to credit problems i and if you want outback at home, order now mean its a natural extension of whats going on if you think outback steakhouse. About it, brian. Fears of recession, fears of decline in revenue, fears of decline in sales and profits raises questions in this world of hialeah Leveraged Companies with a lot of debt out there look, going into this every appearance is they were in pretty good shape. There was a lot of debt out there. When yowhat do you see . Itical issues facing our world, but the economy was doing well we see breakthrough medicines getting to patients in record time. The coverage ratios were pretty good some of the debt some of the we see harnessing natural gas debts or covenants written were unleashing the promise of clean energy. On the iffy or light side. We see engineers simulating the future to improve today. But we talked to all three major at emerson, when issues become inspiration, Credit Rating agencies and they all for lack of better focusing core strengths to create a better world term have the hair standing up isnt just a result, its a responsibility. On the