Carter Worth And Mike Khouw's UUP Trade

On CNBC's "Options Action," Carter Worth said he expects more weakness to come for the U.S. dollar. He is bearish because the U.S. Dollar Index broke its long-term uptrend and failed to trade above it. Worth sees a potential move to $23 in Invesco DB US Dollar Index Bullish Fund UUP, but since currencies don't move much, he would use options.

To make a bearish trade, Mike Khouw wants to buy the September $24/$23 put spread for a total cost of 19 cents. The trade breaks even at $23.81 or 1.69% below the closing price on Friday.