While that was a nice gain for the shareholders, option traders really cleaned up. Those calls inflated exponentially, at one point gaining more than 800 percent in a matter of hours to $0.95. The stock needed to move quickly for the trade to work because the options expire this afternoon.
Earlier this month, investors bought January calls and sold January puts as Dish Network shares held support above their 100-day and 200-day moving averages. They paid about $1.14 to enter that position, which is now worth $4.85 after the stock pushed higher.
Total option volume in the satellite-television and communications company was 10 times greater than average in yesterday's session.
—By CNBC Contributor David Russell
Additional News: Dish Network to Launch Satellite Broadband Service
Additional Views: Bulls Tune Into Dish Network
Options Trading School:
David Russell is a reporter and writer for OptionMonster. Russell has no positions in DISH.