Dan Nathan's Bullish Snap Trade

Dan Nathan suggested on CNBC's "Options Action" a bullish options strategy in Snap Inc SNAP.

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He thinks investors with a long position in the name should consider buying one contract of the August 24 call for $0.60 and selling two August 27 calls for $0.60. With this options strategy, he would finance the long call position with two short calls and he would also leverage his long position. In case of a rally above $27, Nathan's selling price for the long stock position would be capped at $27, but he would make additional $3 on the call spread, which would increase his selling price to $30.