Call buyers stubbornly returned to EMC yesterday, even through the cloud-computing stock has lagged the rest of the market.
Option traders looked for upside in the June contracts, snapping up almost 16,000 of the 24 calls, with the largest block priced for $0.25, according to OptionMonster's tracking systems. The volume was almost triple the strike's open interest before the session began, indicating fresh activity.
Those calls lock in the price where the stock can be bought no matter how far it might rise. They can provide some nice leveraged gains from even a small pop in the share price over the next month.