$CAT Bear Call Exit

The sharp rally we experienced over the past several weeks claimed another  victim in my portfolio.   back on 2/7 I sold the MAR62.5/65 call spread in $CAT.  I collected .87 per contract and had a 68% chance of the trade going in my favor.  Well, it was the 32% that came to be, as CAT participated in the monster rally over the last few weeks.    I closed this trade a loser.  Paying 2.52 per contract to close the spread, thats a net loss of 1.65 per contract.    We define our risk and position size to play another day, and thats what I'll do. 

tIP BOT +1 VERTICAL CAT 100 MAR 16 65/67.5 CALL @2.52 PHLX