Todd Gordon's Bearish QQQ Trade

On CNBC's "Trading Nation," Todd Gordon of Ascent Wealth Partners suggested a bearish options trade in PowerShares QQQ Trust, Series 1 QQQ.

He said if the current move higher in QQQ fails, it could happen between $210 to $220. If that happens, it would not be unreasonable for the stock to drop to $190.

Gordon wants to make a bearish bet by buying the May $200/$190 put spread for $1.70. The trade breaks even at $198.30 or 5.32% below the closing price on Wednesday. If QQQ drops to $190 or lower at the May expiration, the trade is going to reach its maximal profit of $8.30.

Even if there is just a 20% or 30% chance for this move to happen, the risk-reward is strong enough to make the trade a good proposition, said Gordon.