Dan Nathan Changes His Winning Wal-Mart Trade

On CNBC's Options Action, Dan Nathan spoke about the changes he wants to make for his bearish options strategy in Wal-Mart Stores, Inc. WMT.

On January 8, he bought the February 65 put and since then the stock declined 2.5 percent. He thinks that it is a good idea to sell the February 65 put and buy the February 60/57.5 put spread for a fraction of the gains. With the new trade Nathan is taking some money off the table and he still has a bearish exposure.