Carter Worth of Cornerstone Macro spoke on CNBC’s “Options Action” about iShares Transportation Average ETF (BATS: IYT). He said the index is stalling of late and has underperformed the S&P 500. He expects to see a pullback in IYT, and he thinks it could come back to at least its trend line.

Mike Khouw wants to buy a put spread to make a bearish bet. Specifically, he wants to buy the February $215/$195 put spread for $4.50. The trade breaks even at $210.50 or 4.95% below the current stock price and it can make a maximal profit of $15.50.