By Jon "DRJ" Najarian, co-founder of OptionMonsterNEW YORK ( TheStreet) -- Back before Cablevision ( CVC) spun off Madison Square Garden ( MSG), we did not have a pure options trade on where LeBron James will end up. But now that MSG is publicly traded we do have such a play, and investors and sports fans are betting that King James will come to the world's biggest stage in New York City. Intrade.com, the site that will bet on anything, says the odds of James staying in Cleveland had fallen to nearly 50-50 from Tuesday to Wednesday, a drop of more than 12% overnight. Madison Square Garden's shares closed Wednesday up 6.41% to $21.57 as speculation was rampant in the July 22.50 calls, which saw 11,595 contracts dwarf the average volume of just 102 per day. Those options have just seven trading sessions to live, but given that the event the investors are betting on hits ESPN airwaves Thursday night, that should be more than enough time on this binary, something-or-nothing investment. The stock's volatility is nearly up 50%, running to as high as 72% Wednesday and up from an average of 48% over the last 30 days -- and it's pretty clear the only catalyst for this is the 25-year-old basketball phenom. Normal call activity at all strikes is under 500 contracts and puts trade less than 100 per session, but Wednesday OptionMonster's systems showed 15,679 calls trading vs. 5,161 puts. Najarian has no postions in the stocks mentioned.