Todd Gordon's Bullish Tesla Options Trade

On CNBC's Trading Nation, Todd Gordon of TradingAnalysis.com spoke about a bullish options strategy in Tesla Inc TSLA.

He said the stock is trading close to a technical resistance, but it hasn't been able to break above it since 2014. Gordon thinks Tesla could finally break out on the upside and he wants to use options to make a bullish bet.

Gordon wants to buy the May 300/305 call spread for $1.33. The trade breaks even at $301.33 or 8.67 percent above the current stock price. If Tesla jumps to $305 or higher, the trade is going to reach its maximal profit of $3.67.