Dan Nathan's Intel Options Trade

Dan Nathan spoke on CNBC's "Options Action", about a bullish options trade in Intel Corporation INTC. The stock was upgraded by Merrill Lynch to Buy on Friday. The analyst has also raised its price target to $60.

To make a bullish bet, Nathan wants to buy the July 50/60 call spread in the name. The total cost of the trade is $2.40 and it breaks even at $52.40 or 10.97 percent above the current market price. If the stock jumps to $60 or higher, the trade is going to reach its maximal profit of $7.60. The move to $60 would be a 27 percent increase in price from the current market price.