On CNBC’s “Options Action,” Carter Worth said he expects more weakness to come for the U.S. dollar. He is bearish because the U.S. Dollar Index broke its long-term uptrend and failed to trade above it. Worth sees a potential move to $23 in Invesco DB US Dollar Index Bullish Fund (NYSE:UUP), but since currencies don’t move much, he would use options.
To make a bearish trade, Mike Khouw wants to buy the September $24/$23 put spread for a total cost of 19 cents. The trade breaks even at $23.81 or 1.69% below the closing price on Friday.
