Trader looks for Caterpillar to dig out
A trader made a big bet Wednesday on a rally from Caterpillar (CAT). A single trade of 10,000 contracts of the Nov. 122 call crossed the tape at 10:26 this morning, against open interest of 269. That big trade moved high in the bid-ask spread, indicating it was initiated from the buy side.
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About Caterpillar Inc.
Caterpillar is an iconic manufacturer of heavy equipment, power solutions, and locomotives. It is currently the world's largest manufacturer of heavy equipment with approximately 16% of global market share in 2017. The company is divided into four reportable segments: construction industries, resource industries, energy & transportation, and Caterpillar Financial Services. Its products are available through a dealer network that covers the globe with 2,163 branches maintained by 168 dealers. Caterpillar Financial Services provides financing to its customers and dealers.