In today’s trade recap, Dan Passarelli highlights an alert from his daily Market Taker coaching session. Right now, CAT is holding support at right about $104. CAT also has weekly support on the psychological price level at $100 which coincides with the 200 day simple moving average. Additionally, implied volatility in the name is at elevated levels relative to historical. These factors combine to present a very high probability set up for put credit spreads. To setup this trade, we would sell the October 97.5/100 bull put spread for $0.20 cents or better.