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Todd Gordon's SPDR Gold Trust Trade

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On CNBC's "Trading Nation," Todd Gordon suggested a bullish options trade in SPDR Gold Trust (NYSE: GLD). The stock has been moving higher lately and he wants to buy the strength.

Gordon thinks that SPDR Gold Trust could move to 143.50 and he wants to use options to make a bullish trade. Specifically, he wants to buy the Oct. 135/145 call spread for $2.28. The trade breaks even at $137.28 or 1.7% above the current stock price. If the stock moves to $145 or higher at the October expiration, the trade is going to reach its maximal profit of $7.72. Gordon wants to use a stop loss and close the trade if the price of the spread drops 50%.

Posted-In: CNBC Todd Gordon Trading NationOptions Markets Media

 

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