Alcatel-Lucent popped earlier in the month, and the bulls came back yesterday.
OptionMonster's tracking systems detected heavy buying in the June 1.50 calls for $0.25 to $0.30. The first blocks crossed our screens late in the morning, and activity continued to build throughout the session. More than 23,000 would change hands by the close, compared with previous open interest of 1,597 contracts.
Alcatel shares fell 0.69 percent to close at $1.44, but pared earlier losses after the trades hit. The beaten-down telecommunications supplier is up 29 percent in the last week alone after securing a key loan from Credit Suisse and Goldman Sachs.