Pete Najarian Sees Unusual Options Activity In Melco Crown Entertainment

On CNBC's Options Action, Pete Najarian spoke about unusual options activity in Melco Crown Entertainment Ltd (ADR) MPEL. He explained that the stock is recovering from its recent lows because of better than expected casino numbers. Najarian noticed activity in the April 26 call options as 5,000 contracts were traded. Traders were paying $0.85 for these options, which sets breakeven at $26.85 at April expiry. Najarian doesn't have a position in the name, but he has an open order in the market.