Todd Gordon's SPDR Gold Trust ETF Trade

On CNBC's Trading Nation, Todd Gordon of TradingAnalysis.com spoke about a bullish options trading idea in SPDR Gold Trust (ETF) GLD.

He wants to buy the April 7th, 117 strike call and sell the April 7th, 120 strike call for a total cost of $0.91. The trade breaks even at $117.91 or approximately 1 percent above the closing price on Thursday. If SPDR Gold Trust (ETF) jumps 2.80 percent or more the trade is going to reach its maximal profit of $2.09. If the premium drops to $0.45, Gordon is going to close the trade.