Options Action Final Trade From August 1

Carter Worth, speaking on CNBC's Options Action Final Trade said that he is a buyer of Tesla Motors TSLA and thinks that investors should forget General Motors GM.

Tesla gained 4.46 percent on Friday, whiel General Motors fell 1.12 percent.

Dan Nathan recommended a purchase of put options in PowerShares QQQ Trust, Series 1 (ETF) QQQ; the ETF dropped 0.37 percent and closed at $94.67 on Friday.

Mike Khouw suggested that investors should use put spreads to hedge their General Motors portfolio.