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Options Bulls Betting on This Chip Maker

Teradyne had a tough month in April, but May could be the time for this semiconductor name to find its mojo.

OptionMonster's real-time tracking systems lit up with the June 18 calls trading in a few large blocks for $0.25 to $0.30 and the October 18s for $1.15 and $1.20. The June calls traded some 5,500 contracts overall, while the Octobers saw about half that amount.

TER shares ended Thursday's session up 0.25 percent to $15.94. (See tickerfor today's latest quote.) The company provides testing equipment for semiconductors, plus many other complex electronics.

The chip sector has been performing well of late even as the S&P 500 pushes lower. Judging by yesterday's (Thursday's) call action, someone apparently thinks that Teradyne is ready to catch a ride.

Calls outpaced puts in the name by 9,415 to 438, which suggests that the session was bullish overall.

Disclosures:

Pete Najarian has no positions in TER.

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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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