Yelp Inc. (YELP) operates as an online local guide that connects people primarily with boutiques, mechanics, restaurants, and dentists.
Yesterday, we at www.keeneonthemarket.com saw a trader buy 9,500 YELP May 75-90 bull call spread for $2.60 debit.
This is a HUGE bet that YELP will trade above $75 by May expiration. This was a $2.6 Million bet, so yesterday I bought the May 75 Calls for $3.20 and I am up over $7,000 in 2 days and I think that YELP has more upside potential.
The Trade: I bought the YELP May 75 Calls for $3.40
Risk: $340 per 1 lot
Reward: Unlimited
Targets: $3.80, $4.40, $5.00, and $5.50
Greeks of this Trade:
Delta: Long
Gamma: Long
Theta: Short
Vega: Long