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Mike Khouw spoke on CNBC's Options Action about a bullish options trade in Caterpillar Inc. (NYSE: CAT). The call options volume in the name was twice the average daily call options volume and the most active options were the October 72.50 calls.
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The company is due to report earnings on Thursday and the options market is implying a 4 percent move for the stock, which is the same as its average move on the earnings. Khouw noticed a big activity in the October 72.50 calls and traders were paying around $0.60 for the strike. The breakeven for the trade is at $73.10 or approximately 4 percent higher from the current stock price.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.