Will Juniper Continue to See Upside Options Activity?

Juniper Networks is a leader in high-performance networking but is usually caught in the wake of industry giant Cisco. Yesterday, however, Juniper was lighting up our screens early with upside options activity.

OptionMonster's tracking systemsdetected buyers of the October 24 calls, paying $1.35 and $1.40 for more than 5,000 contracts in the first 30 minutes of trading. In the final hour of session about 6,500 calls have changed hands at the strike, the vast majority of them bought, versus open interest of 2,749 contracts.

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The chart for Juniper says it all: The stock was near $12 in March, jumped to $22 to $24 range, then spent some time getting a last blast in July to over $26 after Goldman Sachs upgraded it to a "buy" rating and raised the price target to $29 from $24. But Juniper has tailed off since then.

Now the shares are easing back and under some pressure, closing yesterday down 1.38 percent to $23.63. For the calls purchased yesterday to turn a profit, Juniper would need to rise at least 7 percent before the options expire in October.

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Juniper Competes With:

Alcatel-Lucent

Hewlett-Packard

Cisco

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Pete Najarian is a professional investor, CNBC contributor, regular co-host of CNBC's "Fast Money" and co-founder of OptionMonster.com.

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