Kevin Kelly's Crown Castle Trade

Kevin Kelly of Benchmark Investments spoke on Bloomberg Markets about a bullish options strategy in Crown Castle CCI.

He noticed the implied volatility in the name is elevated and that the CEO was buying the company's shares last month. Kelly wants to capitalize on the increased volatility and sell the January 100 put and buy the January 115 call for a total cost of 20 cents. If the stock closes above $115.20 at the January expiration, the trade is going to make money. If it drops below $100, Kelly is going to have to purchase the stock at $100.