On CNBC's "Trading Nation," Todd Gordon of TradingAnalysis.com said he is looking to add some exposure to Tesla, Inc. TSLA. The stock bounced off its support at $600 and Gordon sees that as an opportunity to get a long position.
He wants to sell the April $635 put for $62 and buy the April $730 call for $29. The options structure would allow him to collect a credit of $33. He would start to lose money if the stock drops below $632. If it trades above $730 he can gain more than the $33 he collected.
See also: How to Invest in Tesla Stock
Gordon said he is not overly bearish and he is looking to add to his positions.
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