Yelp Inc. operates as an online local guide that connects people primarily with boutiques, mechanics, restaurants, and dentists. Yesterday, we at 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