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CAT has earnings due out on 4/29
This is the biggest near term risk in the trade.
I’m looking for a swing trade position out in JUL expiration cycle. I am buying an IN/OUT spread, risking 1 to make 1.
CAT has been in a range for about 3 weeks and it is currently is a squeeze that I am looking to fire LONG.
If I am wrong, I am defining my risk by the amount of premium I am going to pay for this spread.
TRADE SET UP:
BTO $CAT 16JUL 230/240 CALL SPREAD
RISK: $470
REWARD: $530
POP: 44%Risk Profile:
CAT at 235.17
I’m going to take this trade off here and look for new setup
Closing Order Ticket:
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