Todd Gordon of TradingAnalysis.com shared with the viewers of CNBC's "Trading Nation" his bullish options trade in SPDR S&P 500 ETF Trust SPY.
Gordon believes that SPDR S&P 500 ETF Trust is going to trade higher to $250 and he wants to use options to make a bullish bet. He wants to buy the August 243/248 call spread for $2.60.
The trade breaks even at $245.60 or 0.48 percent above the current stock price. It can maximally make a profit of $2.40. If the premium drops to $1.30, Gordon is going to close the position.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in