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Market Overview

Andrew Keene's Cliffs Natural Resources Options Trade


On CNBC's Trading Nation, Andrew Keene of AlphaShark suggested a bullish options trade in Cliffs Natural Resources Inc (NYSE: CLF). He analyzed the stock from the technical standpoint and he concluded that it's reasonable to expect a breakout above the recent resistance of $10.90.

He has also noticed unusually high bullish options activity in Cliffs Natural Resources, which makes him think the stock is going higher.

To make a bullish bet, Keene wants to buy the April 12/13 call spread for $0.20. The trade breaks even at $12.20 or 24.62 percent higher and it can maximally make a profit of $0.80.


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Posted-In: Andrew Keene CNBC Trading NationOptions Markets Media

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