CDE shares rose 1.26 percent to $24.10 yesterday. This means that those calls are way out of the money, so the stock needs to make a substantial move in the next year for the trade to pay off.
The stock has bounced several times at its 200-day moving average around $22. The average was also a key level in late August, so some chart watchers may want to get long around that price.
In addition, CDE shares climbed last Thursday, even though the price of silver tumbled almost 4 percent. Such price action suggests that buyers are targeting the shares.
Total option volume was 5 times greater than average yesterday, with calls outnumbering puts by a bullish 8-to-1 ratio.
—By CNBC Contributor David Russell
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David Russell is a reporter and writer for OptionMonster. Russell owns CDE shares.