Kevin Kelly's Facebook Trade

Speaking on Bloomberg Markets, Kevin Kelly of Recon Capital Partners suggested a bullish options strategy in Facebook Inc FB ahead of earnings. The company has beaten expectations in the last eight quarters and it is now trading below the price it reached after the last earnings report. To make a bullish bet, Kelly wants to sell the April 100 put and buy the April 113 call. This strategy would cost him $1.50 and he would participate on the upside if the stock trades above $114.50 at the Friday expiration.