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Options: Bet on Rambus; See Micron 'Peril'

The options market is gearing up to take advantage of what may be a huge run in Rambus stock following the chip maker's court victory this week.

"Even though Rambus's adversaries in this ongoing court case, Hynix ,

Micron and Nanya , have vowed to pursue avenues of appeal, the market -- and the options market in particular -- is positioning for what they would call a 'royalty windfall,' and what this might mean for Rambus's share price in the longer term," Rebecca Darst of Interactive Brokers said on CNBC's "Squawk Box" Thursday morning.

A U.S. jury verdict ruled Wednesday that Rambus did not violate antitrust laws or commit fraud in its attempt to protect patents. A final decision from the court in the long running case is pending. At stake is at least hundreds of millions of dollars in royalties Rambus could collect from its memory chip technologies.

Darst said options trades in calls -- the right to buy a stock at a specified price sometime in the future -- indicated that many traders were betting Rambus stock could break the $40 per share level by next year. Meanwhile, the options trades in Micron Technology showed clear "price peril," she said.

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