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Apple Driving Bulls into This Hardware Supplier

SanDisk is catching attention because of its ties to Apple , and now the bulls are showing up ahead of the company's earnings report Thursday.

Lazard analyst Daniel Amir cited reports from sources that a new MacBook Air notebook may use solid-state disk drives from SanDisk. Other stocks, such as Arm Holdings, have also been lifted by Apple's rising tide, and SanDisk is now tracking support right along its 200-day moving average.

The storage technology company reports earnings after the bell on Thursday, and OptionMonster's real-time systems showed activity hitting early and throughout the session yesterday, especially in the November 42, November 45, and November 50 calls. More than 26,000 of the 32,618 contracts that traded were in November, and calls outnumbered puts by 3 to 1.

SanDisk stock initially traded above $40 but ended yesterday down 0.77 percent to $38.91. Overall option volume was about twice the average level in the session.


Pete Najarian has a long call spread on SNDK.

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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.