Aetna Inc. (NYSE: AET) shares are trading higher today after the company reported a 4% increase in quarterly profit this morning on earnings per share of $0.95, above analysts' expectations of $0.92 per share. Furthermore, the company upped its full-year outlook to $3.48 per share from the $3.40-$3.42 range. If you think that the company won't fall by too much in the coming months, then now could be a good time to look at a bullish hedged trade on AET.

Aetna stock has been following an upward trend all year, reaching a new 52-week high with today's gains. AET opened this morning at $54.30. So far today the stock has hit a low of $54.30 and a high of $55.38. As of 10:30, AET is trading at $54.94, up $2.04 (3.9%). The chart for AET looks bullish and steady, while S&P gives the stock a very positive 5 STARS (out of 5) strong buy rating.

For a bullish hedged play on this stock, I would consider a January bull-put credit spread below the $47.50 range. A bull-put credit spread is an options position that combines the purchase and sale of put options to hedge risk in case the stock doesn't do what you think but still leverage nice returns. For this particular trade, we will make a 5.3% return in just 3 months as long as AET is above $47.50 at January expiration. Aetna would have to fall by more than 13% before we would start to lose money. Learn more about this type of trade here.