Andrew Keene Is Bullish On ConocoPhillips

Andrew Keene of AlphaShark suggested on CNBC's Trading Nation a bullish options strategy in ConocoPhillips (NYSE: COP).

He likes the stock because he noticed an institutional order flow in the April 52.50 calls and he also thinks there are some bullish patterns on its chart. He explained that ConocoPhillips is currently going through a period of consolidation and he expects to see a break out on the upside. His price target for the stock is $55.

Keene wants to buy the April 52.50/55 call spread in ConocoPhillips for $0.60. The trade breaks even at $53.10 or 7.06 percent higher and it can maximally make $1.90 if the stock jumps to $55 or higher.