Todd Gordon's Bullish Gold Trade

Todd Gordon of TradingAnalysis.com recommended on CNBC's Trading Nation a bullish options strategy in SPDR Gold Trust (ETF) GLD.

He sees some challenges ahead for the economy and he thinks gold could trade higher as a result. Gordon expects that SPDR Gold Trust (ETF) could break out on the upside and reach $124.

To make a bullish bet, he wants to sell the May 119/117 put spread for a total credit of $0.75. He is going to collect the whole premium, if the stock stays above $119 at the May 5 expiration. The trade starts to lose money below $118.25 and it can maximally lose $1.25.