The stock has not traded above the Ichimoku Cloud since early February and has been in a strong downtrend since April of 2011.
Trade:
Buying the CLF Jun 19-17-15 Put Fly for $0.36
Risk: $36 per 1 lot
Reward: $164
Breakeven: $15.36 and $18.64
-James Ramelli, Trader at KeeneOnTheMarket.com.
James@keeneonthemarket.com