Pete Najarian Sees Unusual Options Activity In Yelp

Pete Najarian spoke on CNBC's "Fast Money Halftime Report" about unusually high options volume in Yelp Inc YELP.

He said that somebody bought 5,000 contracts of the July 32 calls in the first half of the session for around 50 cents. The trade breaks even at $32.50 or 4.47 percent above the current market price. Najarian followed the trade and he's planning to hold the position to the expiration.