ExxonMobil And Biotech: How To Play A Declining Market

On CNBC’s “The Final Call,” Carter Worth said he liked biotech. He named SPDR S&P Biotech ETF (ARCA: XBI) hit a low on May 11 but “the S&P hasn’t bottomed yet.” “It’s up 32% since then,” he added.

Scott Nations said, “I want to use options to make money while defending my risk even if ExxonMobil Corp. (NYSE: XOM) goes nowhere at all.”

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Mike Khouw said that he liked call spread risk reversals in SPDR S&P Biotech ETF. “For those of you who are thinking of trying to catch those falling knives, calls are a better way to play it.”