Benzinga | Nov 6, 2020 06:53AM EST

Todd Gordon's Old Dominion Freight Line Trade

On CNBC's "Trading Nation," Todd Gordon spoke about Old Dominion Freight Line Inc (NASDAQ:ODFL). The stock moved higher following Tuesday night's election and Gordon thinks there is more upside ahead.

Old Dominion Freight Line has been in a consolidation over the last two months and it looks like it's now ready to move above $210, thinks Gordon. He is a little hesitant to use options because Old Dominion Freight Line is not a high flying technology stock.

Those who want to use options should consider a purchase of the December $210/$220 call spread for $3.50, thinks Gordon. The trade breaks even at $213.50 or around 3.5% above the closing price on Thursday. It can make a maximal profit of $6.50, if the stock moves to $220 or higher.