Alcatel-Lucent saw upside option activity Tuesday for the second time in a week, after unveiling a next-generation chip that it says will dramatically improve Internet performance.
More than 9,800 August 6 calls traded in a strong buying pattern yesterday, mostly for $0.25 to $0.30, according to 's real-time tracking systems. The volume dwarfed the daily average of just 31 calls at that strike and was more than 11 times the previous open interest of 872 contracts, so it was clearly done to open new positions.
Total calls in the name outnumbered puts by more than 50 to 1 Tuesday. ALU saw bullish activity a week earlier as traders snapped up December 6 calls for $0.40. (Those contracts are now going for $0.60.)
ALU shares rose 3.68 percent Tuesday to close at $5.64. (Click for latest 24-hour Alcatel quotes.)
The new technology it announced yesterday will provide "greater capacity, faster connections, and reduced congestion on the web," allowing for enhanced videoconferencing and other online services, according to the Paris-based telecom equipment company.
Pete Najarian has no positions in ALU.
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Pete Najarian is a professional investor, CNBC contributor, regular co-host of CNBC's "Fast Money" and co-founder of .