Traders bid big on eBay

Options Action: Bid on eBay?

A flurry of options activity indicates that to the minds of many traders, eBay has a lot of room to run in the weeks ahead.

In the first 1 ½ hours of Wednesday trading, more than four calls were traded for every put on the company, which is typically an indication that traders are more interested in making bullish than bearish bets on a stock.

This comes after a busy Tuesday for eBay options, when three times the average daily call volume traded, and 18 of the 20 most active options were calls, as Mike Khouw noted Tuesday on CNBC's "Fast Money."

There appears to be a bias toward short-term options, with the February 56-strike calls being especially active on Tuesday, and serving as the most popular option on Wednesday morning. These calls expire on Friday, Feb. 20.

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