Kevin Kelly's Facebook Trade

Speaking on Bloomberg Markets, Kevin Kelly of Recon Capital Partners suggested a bullish options strategy in Facebook Inc (NASDAQ: 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.