Carter Worth And Mike Khouw's Crowdstrike Trade


Carter Worth of Cornerstone Macro spoke on CNBC's "Options Action" about Crowdstrike Holdings Inc CRWD. He said the stock is in an uptrend and every time it has come back to the trend line, it has bounced back and moved higher. When it comes to the relative performance to iShares Expanded Tech-Software Sector ETF IGV, Crowdstrike hasn't made any progress since September, but Worth sees that as a setup for a break out to the upside. He expects the stock to move higher in response to earnings, scheduled for August 31.

To make a bullish bet, Mike Khouw wants to buy the October $290/$330 call spread for $10.70. The trade breaks even at $300.70 or 6.51% above the closing price on Friday. If Crowdstrike jumps to $330 or higher at the October expiration, the trade is going to reach its maximal profit of $29.30.



Market News and Data brought to you by Benzinga APIs
Date of Trade
Strike Price
Posted In: OptionsMarketsMediaCarter WorthCNBCMike KhouwOptions Action
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!