Jon Najarian Sees Unusual Activity In Melco Crown Entertainment Ltd (ADR)

Jon Najarian said on CNBC's Fast Money Halftime Report that he noticed unusual bullish options activity in Melco Crown Entertainment Ltd (ADR) MPEL on Tuesday. The February 26 calls were the most active options on Tuesday and they were trading in a range between $0.45 to $0.62, explained Najarian. There were several large block trades and the volume exceeded open interest. The July expiry was also pretty active today. The stock was trading sideways in the last month, but now it looks like it could break out above $26. Najarian followed this trade and he might stay long until July.