Michael Khouw: latest market views

Summary

Michael Khouw is co-founder and chief strategist of OpenInterest.PRO and chief strategist at Optimize Advisors, a veteran options trader and co-author of 'The Options Edge' who has been a regular on CNBC's Fast Money and Options Action since 2009.

Chorus has 5 views from Michael Khouw across 3 episodes on CNBC Fast Money since October 23, 2026. Their latest calls: bullish on Caterpillar and Starbucks; bearish on Intel.

Where they stand

Their latest bullish or bearish call on each company.

• CaterpillarBullish · October 29, 2026
• IntelBearish · October 29, 2026
• StarbucksBullish · October 29, 2026

What they talk about most

• Starbucks · 2
• Caterpillar · 1
• Intel · 1
• Microsoft · 1

The latest views

Newest first. Every quote is checked against the episode's transcript.

• IntelBearish

  Intel was never cheap, trading above 40x forward earnings despite losses and falling behind AMD.

  Khouw says Intel lost money last year and lost almost 90 cents a share the year before, and that it has run behind AMD in many areas, with Ryzen now preferred over Intel chips. He argues it already traded above 40 times forward earnings before the disappointing news, so it was not cheap even after the after-hours discount.

  “this thing was already trading more than 40 times forward before we got some news that isn't that great. It's not cheap. It wasn't cheap before these numbers came out.”at 9:23

  CNBC Fast Money: Amazon and Intel Report Results… And Alphabet’s Post-Earnings Plunge 10/29/26 · October 29, 2026

• StarbucksBullish

  Starbucks' turnaround under new management is palpable; it is alright to own the stock here.

  Khouw says recent store visits on the West Coast show clear changes that make stores feel like local businesses rather than a global chain. He points to greeting customers, ceramic cups, and a comfortable setup for working, and says the company is doing the right thing. He has faith in the new management and says it is a difficult business that he was not expecting much from. He adds that the stock is just above its long-term 101 moving average, which he would be cautious about.

  “I think they're doing the right thing. I have a lot of faith in the new management here. It's a difficult business... but I think you're alright to own it here.”at 30:42

  CNBC Fast Money: Amazon and Intel Report Results… And Alphabet’s Post-Earnings Plunge 10/29/26 · October 29, 2026

• CaterpillarBullish

  Caterpillar's deep selloff makes it a stock to start kicking the tires on.

  Khouw says Caterpillar is in deep bear market territory, far below its all-time highs, and that it had been getting a boost on potential construction spend tied to the AI trade. He thinks it had gotten a little frothy near the top, and now the market is shooting first and asking questions later. For those reasons he likes the name and sees it as a place to start looking.

  “I kinda like Caterpillar and I view this as maybe a place that I would start to kick the tires because I think it had gotten a little frothy up there at the top.”at 34:00

  CNBC Fast Money: Amazon and Intel Report Results… And Alphabet’s Post-Earnings Plunge 10/29/26 · October 29, 2026

• MicrosoftUncertain

  Microsoft's options look cheap given its big post-earnings moves; the 4.4% implied move is light.

  Khouw says the one-day implied move for Microsoft is about 4.4%, which seems light. Microsoft has moved more than 15% after its most recent quarterly release and has seen moves of about 10% or more over the last three quarters. Flows have been bullish, but he thinks the options look quite cheap into the report given how much the stock has moved.

  “That strikes me as pretty light considering Microsoft has actually moved more than 15% after that most recent quarterly earnings release... I think the options look quite cheap going into it given how much that stock has moved around.”at 16:58

  CNBC Fast Money: All Clear For Markets?... And What To Expect Out Of Fed Rate Decision Tomorrow 10/27/26 · October 27, 2026

• StarbucksBearish

  Options market has turned bearish on Starbucks, with puts outpacing calls ahead of earnings.

  Khouw had been positive on Starbucks' turnaround, which he saw in the stores and in options flow. Over the last five days, sentiment has shifted. Puts are outpacing calls, and open interest in puts has climbed above calls, which is unusual for Starbucks and for single stocks generally. He concludes the options market is less convinced by the turnaround than he was.

  “we have seen puts outpacing calls and the open interest in puts has similarly now climbed above that of calls. That's unusual for Starbucks”at 46:15

  CNBC Fast Money: Parts Of Tech Showing Strength Amid Sell-Off… And A Catch-Up Call In Oil 10/23/26 · October 23, 2026

Shows

• CNBC Fast Money · 3 episodes