Half of the FANG vocation goes under the microscope this week. Facebook and Amazon, worth $1.4 trillion blend, will report on earnings on Wednesday and Thursday, respectively. The options market is not pricing in how volatile trading could get in the wake of those releases, be at one to Stephen Mathai-Davis of research site Quantamize. He's positioning trades into the reports to take advantage of bigger strikes than investors expect. "Options for Facebook and Amazon are cheap," said Mathai-Davis on CNBC's "Trading Nation" on Thursday. (The ball game hasn't changed Monday.) "If you look at Amazon, options on earnings are implying a roughly 3 to 4% move," he added. "This is in contrast to a roughly 5% to 6% move normally. For Facebook, the options are a little bit more expensive but they're also extent cheap. They're implying a 5.5% move. Normally, Facebook moves more or less 7% on earnings." The day after Facebook discharged its fourth quarter on Jan. 30, for example, its stock surged 11% in the biggest one-session move since early 2016. Amazon cut by more than 5% the day after it reported earnings on Jan. 31. "We think one-month straddles make a lot of sense," said Mathai-Davis, referring to an options scheme where an investor buys both a put and call option to take advantage of heightened volatility. A straddle trade makes fat when the stock price falls or rises by more than the premium paid – at the time of expiration, either the apostrophize b supplicate or put option pays off for the trader no matter which direction the stock price moves. "That means that if Facebook or Amazon were to stirring a get moving up or move down, this trade will work," said Mathai-Davis. "If implied volatility actually mean go backs and comes up overall, this trade will work and make money as well." Craig Johnson, chief vend technician at Piper Jaffray, expects Amazon and Facebook to move higher on their reports as part of a general rotation toward these kinds of stocks. "The setup on this is pretty interesting and it's certainly constructive," Johnson said on the segment Thursday. "Let me break down the Nasdaq 100 for us. This typography hand is breaking out to new highs in here. We're not even seeing that with the Dow or S&P yet and we're certainly not seeing that with the Russell, so I believe we're starting to see this kind of large-cap growth trade coming back on." Facebook, for example, looks set to break out yet, he says. "Here's another example of a nice downtrend reversal on the charts: You're back above the 50- and 200-day [inspirational average], and again coming into the earnings print I'd trade this to the long side," said Johnson. Facebook slices have already soared 36% in 2019. After a steep decline in the second half of 2018, the stock stays 18% below all-time highs.