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Todd Gordon's SPY Trade

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Todd Gordon of TradingAnalysis.com revealed on CNBC's "Trading Nation" his options trading strategy in SPDR S&P 500 ETF Trust (NYSE: SPY). He thinks the market is going to continue to trade higher and he sees SPDR S&P 500 ETF Trust between $146 and $148 over the next couple of weeks.

To make a bullish trade, Gordon wants to sell the July 244/241 put spread for 96 cents. If the stock closes above $244 at the July expiration, he is going to make the maximal profit of 96 cents. The trade starts to lose money below $243.04 and it can maximally lose $2.04. Gordon is going to close the trade if SPDR S&P 500 ETF Trust drops below $242.

Posted-In: CNBC Todd Gordon Trading NationBroad U.S. Equity ETFs Options Markets Media ETFs

 

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