With the S&P 500 Index now back above the 50- and 20-day moving averages, it appears the bulls have reclaimed control for the time being. If indeed higher prices are in the offing, bullish opportunities should be on the rise.

One stock that weathered the April market correction quite nicely is Tractor Supply (NASDAQ:TSCO). The last month of consolidation has formed a clean high base just below the pivotal century mark.

Source: Mach Trader — Click to Enlarge A confirmed breakout above $100 could spark yet another up-leg in the trend. Traders looking for a more cost-effective way of gaining bullish exposure to this triple-digit stock might consider the purchase of a call vertical spread.

The call vertical spread consists of buying to open a lower-strike call while selling to open a higher-strike call of the same expiration month. The short call option reduces the overall cost of the trade, as well as its exposure to time decay and volatility.

Currently, the June 100-105 call vertical spread can be purchased for $2.10. The maximum risk is limited to the initial $210 debit and will be incurred if TSCO sits below $100 at June expiration. The max reward is capped at $290 and will be captured if TSCO lifts to $105 by expiration.

An even more conservative alternative would be purchasing the July 100-105 call spread, as it offers an additional month for TSCO to climb above $105.

As of this writing, Tyler Craig did not hold a position in any of the aforementioned securities.