Kevin Kelly's Technology ETF Trade

Kevin Kelly of Recon Capital Partners spoke on Bloomberg Markets about a bullish options strategy in Technology Select Sector SPDR Fund XLK.

Kelly suggested that investors should consider a risk reversal strategy in the name and they can use it as a stock replacement strategy or a way to leverage a position. He wants to sell the August 55 put and buy the August 55 call for 8 cents. The trade is going to make money if the stock closes above $55.08 at the August expiration.