Tibco Software has been falling for the last year, but the bulls showed up at the end of last week.
OptionMonster's tracking programs detected heavy call volume in the provider of business software on Friday. The trades began in the June 18s, which initially fetched $2 but then saw large blocks price for $2.15 and $2.20.
Minutes later, the June 19s also lit up with buyers paying $1.50 and $1.55 for more than 3,000 of those contracts. There was barely any open interest at either strike when the session began, so this was new money being put to work.