Fast Money Picks For January 16

On CNBC's Fast Money, Brian Kelly suggested to the viewers to consider a purchase of put options in SPDR S&P 500 ETF Trust SPY, but not if the market opens significantly lower. Tim Seymour and Steve Grasso would buy Best Buy Co Inc BBY on Friday. Grasso added that it needs to hold $33.17, which was the low on Thursday. Guy Adami thinks that gold is going higher and he wants to buy Newmont Mining Corp NEM.