I’m not sure what got into CAT today but it has really zoom higher in out favor. However we are short the OCT 85 calls and of course, they are being attacked.
I personally plan to continue to hold the short calls until tomorrow to see if the stock pulls back. If it does continue higher tomorrow I would suggest selling it right away. You, of course,could exit the OCT 85 calls at anytime you choose. Without the short calls, the long NOV calls would have a nice 22% overall gain the position so far.
So you decide, get out now or wait until tomorrow to see if the stock pulls back for a better price on the exit.
Trade Wisely,
Doug
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