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Carter Worth And Mike Khouw's Macy's Trade

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On CNBC's "Options Action", Carter Worth spoke about Macy's Inc (NYSE: M). He said the stock is going to continue to trade lower and he advised the viewers to sell it. Worth explained that the stock significantly underperformed SPDR S&P Retail (ETF) (NYSE: XRT) and it's in a downtrend. He expects the downtrend is going to continue.

Mike Khouw suggested a bearish options trade to get a short exposure in the name. He wants to buy the November 10 expiration 18.5/16.5 put spread for $0.60. The trade breaks even at $17.90 or 2.51 percent below the current market price. The put spread can maximally make $1.40.

Posted-In: Carter Worth CNBC Mike Khouw Options ActionOptions Markets Media

 

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