Those calls had a long time until expiration, but investors are now shifting to the other end of the spectrum and buying weekly contracts that are good only until Friday's close. Bullish traders bought the October 44 weekly calls for 55 cents and the October 45s for 18 cents.
Calls give investors the right to purchase shares at a given price by a certain date, so they appreciate more rapidly when a stock goes up.
BP rose 4.02 percent to $43.52, popping higher on a strong earnings report and plans to increase its planned businesses divestitures.
The volume exceeded 63,000 contracts in the session, about triple BP's daily average.
—Najarian owns BP calls.
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.