Mike Khouw's CVR Energy, Inc Trade

On CNBC's Options Action, Mike Khouw said that if you own shares of CVR Energy, Inc. (NYSE: CVI), you should consider selling call options against your long position.

Mike Khouw would sell the June 30 calls in CVR Energy, Inc. (CVI) for $2.10, which is approximately 7.5% of CVI's current price. With this trade you would keep some upside potential, but if the stock jumps to $32.10, you would get called away.

CVR Energy, Inc. (CVI) fell 0.07% today, and it closed at $27.60.