Kevin Kelly's Technology ETF Trade

Kevin Kelly, the managing partner at Kelly & Co., spoke on Bloomberg Markets about a bullish options trade in Technology Select Sector SPDR Fund XLK.

He suggested investors should buy the June 65 calls in the name for $2.80. The trade breaks even at $67.80 or 4.78 percent above the closing price Tuesday. Kelly added that the 64 strike straddle implies a move of around 8.4 in either direction.