CLOSING $CAT Options Action trade - Mike

17 aug - another brick.. this option trade will expire at max loss as well.. didnt get any pop since presenting trade on-air and stock being under 90 today.

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30 july - 3weeks to go till Aug opex and this trade is sitting at near a 75% loss if you are still holding, with these calls going for about 50cents and the stock at 85ish. stock near the same price as when trade initiated.

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8 Jun - on tonights Options Action mike has a trade on CAT, here is the clip the clip . the rest of the desk makes a good case for the reasons you might not do this trade.

Buy the Aug 90 call for $3.65 ($365 per lot)

Mike has a thesis that if it rebounds it will do so sharply allowing this call to profit quickly, also mentioned at the end of clip that he may leg into a call spread (spreading it out) if up move comes. Appreciate Enis being transparent and mentioning that he has a put spread on , since it was previously featured on a webextra. mike is at least giving himself some time for this call to work by going out to august.

Mikes on - air trades in google docs spreadsheet