Trader takes $2.6 Million Bet in YELP

Yelp Inc. 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 9500 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

Andrew Keene
KeeneOnTheMarket.com

Submit a Comment

Your email address will not be published.

Get Our Free Daily Trading Videos

Delivered To your Inbox

By submitting your information you agree to our Terms of Service and our Privacy Policy