Nick Raich notes increased competition facing PayPal (PYPL), pointing to disruption in the digital payments space. He says the "silver lining" for PYPL ahead of earnings is that the expectations have been lowered and "bad news priced in." Nick adds that he wants to see a beat and raise, saying improved guidance will be key for the Venmo parent company. He likes the large user base in its ecosystem, but says it needs to grow market share in order to have any positive catalyst in its shares. Tom White late demonstrates a double diagonal options strategy. In his example trade, he explains why it's a "need a move" position.