Todd Gordon's SPY Trade

Todd Gordon of TradingAnalysis.com revealed on CNBC's "Trading Nation" his options trading strategy in SPDR S&P 500 ETF Trust 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.