My Trade Details:
- CAT Oct 7 2022 180 Put near $6
- Stop : Close above $188
- Target : $170
Bullseye Pick Of The Week – CAT - Bullseye Pick of the Week
CAT over 200% move potential
I think the downtrend will continue and it will retest the lows that we saw in July around $170. That is my target if things go my way. Remember, if you are betting against a stock by buying puts, then you want the price of the stock to fall. We will discuss this live today @ 11am.
If I am wrong, CAT will go up from here. I would then stop out or a loss with a close above $188.
I am also only going to start with a half position size on this trade. I would like to have room to add to the position if CAT gets back to the low-$180 area.