Marvel Entertainment (NYSE: MVL) shares are trading higher this morning after Standard & Poor's announced that it added the stock to its S&P MidCap 400 index. MVL is rising today as investors believe that after these announcement, demand for the stock will be unusually high as mutual funds scramble to add the stock. If you think that the stock 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 MVL.

After hitting a one-year low of $21.21 in August, the stock hit a one-year high of $35.00 in May. MVL opened this morning at $34.85. So far today the stock has hit a low of $34.48 and a high of $35.75. As of 12:55, MVL is trading at $35.17, up $1.30 (3.8%). The chart for MVL looks bullish and steady, while S&P gives the stock a neutral 3 STARS (out of 5) hold rating.

For a bullish hedged play on this stock, I would consider a July bull-put credit spread below the $30 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 6.4% return in just seven weeks as long as MVL is above $30 at July expiration. Marvel would have to fall by more than 14% before we would start to lose money. Learn more about this type of trade here.