Nvidia has been holding support around $12, and now the bulls are looking for the graphics-chip maker to rally.
OptionMonster's tracking systems detected unusual activity in the semiconductor stock on Thursday and Friday. First they bought the June 12 calls for $1.11, then they came back the next day to snap up the September 13 calls for $1.05 and $1.06. Volume exceeded open interest both sessions, indicating that new money was put to work.
The calls, which lock in the price where the stock can be purchased, can generate major leverage in the event of a rally. But they also have the potential to become worthless if the stock doesn't move.