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Todd Gordon's Bullish Zoom Video Trade

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Todd Gordon's Bullish Zoom Video Trade

On CNBC's "Trading Nation," Todd Gordon of Ascent Wealth Partners suggested investors should consider a bullish options trade in Zoom Video Communications Inc (NASDAQ: 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. (NASDAQ: 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.

 

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