Todd Gordon's Bullish Nvidia Trade

Todd Gordon of TradingAnalysis.com recommended on CNBC's "Trading Nation" a bullish options strategy in NVIDIA Corporation NVDA.

He identified the support price level in the name between $135 and $140 and he also noticed that implied volatility is currently elevated. To make a bullish bet, Gordon wants to sell the July 140/135 put spread for a credit of $2.04.

He is going to collect the premium, if the stock stays above $140 at the July expiration. Below $137.96, the trade is going to lose money and it can maximally lose $2.96. If the stock drops below $135, Gordon is going to close the trade.