Option volume swelled in the August 22 calls, with some large blocks trading for $0.60. More than 2,600 crossed OptionMonster's tracking systems yesterday versus previous positioning of just 421 contracts at that strike.
Calls lock in the price investors must pay to buy shares, so they can generate some nice leverage if the stock rallies. But if it doesn’t, those options will expire worthless.
Yandex shares rose 3.02 percent to $20.83 yesterday. More than 7,700 options traded in the name, compared with less than 1,000 in a typical session.
—BY CNBC Contributor Pete Najarian
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Pete Najarian is a professional investor, CNBC contributor, regular co-host of CNBC’s “Fast Money” and co-founder of OptionMonster.com. Najarian is long YNDX.