Todd Gordon's SPY Options Trade

Todd Gordon of TradingAnalysis.com shared with the viewers of CNBC's "Trading Nation" his bullish options trade in SPDR S&P 500 ETF Trust SPY.

Gordon believes that SPDR S&P 500 ETF Trust is going to trade higher to $250 and he wants to use options to make a bullish bet. He wants to buy the August 243/248 call spread for $2.60.

The trade breaks even at $245.60 or 0.48 percent above the current stock price. It can maximally make a profit of $2.40. If the premium drops to $1.30, Gordon is going to close the position.