Kevin Kelly's PowerShares QQQ Trust ETF Trade

Speaking on Bloomberg Markets, Kevin Kelly suggested a bullish options strategy in PowerShares QQQ Trust, Series 1 (ETF) QQQ.

He wants to use a risk reversal strategy to place a bullish bet. Specifically, he wants to sell the Febraury 118 put and buy the Febraury 121 call for a total of $0.75. He is going to make money if PowerShares QQQ Trust, Series 1 jumps above $121.75 at the February expiration. Kelly picked February expiration because it captures tech earnings results.