Mike Khouw's Fortune Brands (FO) Trade

Mike Khouw said on CNBC's Fast Money that investors should consider a trade in Fortune Brands, Inc. FO. He explained that Fortune Brands (FO) posted a good quarter on July 30th, and the stock moved off its lows. He added that it might face some headwinds in the second half. Mike Khouw recommended investors to sell the September 45 put for $1.80. This trade will allow him to generate some yield, but he also wants some exposure on the long side, in case Fortune Brands, Inc. (FO) moves higher. He will do that by purchasing the September 50 call for $0.15. Fortune Brands, Inc. (FO) gained 1.17% today, and closed at $45.