Todd Gordon's Etsy Options Trade

On CNBC's "Trading Nation," Todd Gordon of TradingAnalysis.com spoke about Etsy Inc ETSY. He said the stock is consolidating at the moment and he expects to see a break out on the upside.

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To make a bullish bet, Gordon wants to buy the July 70/75 call spread for $1.48. The trade breaks even at $71.48 or 6.4% above the closing price on Tuesday. If the value of the call spread drops to 75 cents, Gordon is going to activate the stop loss and close the trade.