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On Friday’s CNBC’s Options Action, the crew analyzed the performance of the FANG stocks going into earnings next week. The top 5 tech stocks account for over 40% of the NASDAQ 100 index and 14% of the S&P 500 all report earnings next week. After performing on par with the market for the past 2 years, it has started to outperform recently which is bullish. Alphabet, in particular, has lagged the market but recently has started to catch up, Michael Khouw suggests buying a Feb 1185/1270 Call Vertical for a $26.30 Debit.

We’ve structured this trade in OptionsPlay so you can analyze and view this trade along with the supporting technical chart at your convenience. You can also view the Options Action’s video by clicking on the following link: GOOGL Options Action

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