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Caterpillar Has Jumped And It Is Now Going Sideways

Look at this chart. Up more than $50.00 in two days on no real news. The DJIA was up over 1,000 points yesterday.
Here is how it is trading so far this day.
Might the 730 Puts that expire tomorrow something to consider? Yes there are now options on Caterpillar that expire midweek. That is something new. First the 730 Puts and look at how the bid and ask are dropping.
...Now the 725 Puts. It's experiencing the same thing, the Puts are dropping in their bid and ask.
Here is what the DJIA is doing.
One of the mistakes sort term option traders often make is jumping into Puts to quickly in the morning following a day of a massive surge upwards. Wednesdays as I have repeatedly mentioned are often days of market reversal. Let's see what happens next. Caterpillar is a difficult stock to play options on. Last week Trump was trying to meddle with their business model.
To be continued.

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