Todd Gordon of TradingAnalysis.com spoke on CNBC's "Trading Nation" about a bullish options trade in Alphabet Inc GOOGL GOOG. Gordon thinks the stock is going to break out on the upside and he wants to use options to make a bullish bet.
See Also: Pete Najarian Sees Unusual Options Activity In Microsoft And ASHR
He wants to buy the Nov. $1,300/1,340 call spread for $10.60. The trade breaks even at $1,310.60 and if the stock trades to $1,340 or higher at the November expiration, the trade is going to reach its maximal profit of $29.40. If the premium drops to $5.30, Gordon is going to activate a stop loss and close the trade.
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