On CNBC's "Trading Nation," Todd Gordon of Ascent Wealth Partners suggested investors should consider a bullish options trade in Zoom Video Communications Inc ZM.
The stock has been consolidating over the last couple of weeks, but it's now pushing higher on the back of news that Facebook, Inc. FB will support Zoom Video in its video conference portal.
Ascent Wealth Partners own the stock, but its portfolio manager sees no interest in adding to the position. For traders who want to exploit a potential short-term move higher, Gordon suggested a purchase of the September $290/$310 call spread for $8.05. The trade breaks even at $298.05 and its maximal profit is $11.95.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.