Intel options were active earlier in the week, and yesterday the buying hit right at the top of CNBC's "Fast Money Halftime Report."
OptionMonster's scanners detected heavy volume in the June 23 calls and the July 25s as traders once again rolled their positions to higher strikes in longer-dated contracts. This time, they sold the June 23s for $1.83 and bought the July 25s for $0.74.
These calls lock in the price where the chip maker's shares can be bought, so they can track movements in the stock price cheaply and leverage any rally. On Tuesday, they rolled up from the June 26s to the July 27s.
Intel rose 2.17 percent to $24.99 yesterday. Almost 99,000 calls traded versus fewer than 28,000 puts, further indication of the session's bullish sentiment.
—By CNBC Contributor Pete Najarian
Options Trading School:
Pete Najarian is a professional investor, CNBC contributor, regular co-host of CNBC's "Fast Money" and co-founder of OptionMonster.com. Najarian owns INTC calls.