Options Trading: What's Driving Seagate Up?

Seagate Technology saw major upside action in options Monday, as its shares rose more than 14 percent.

Call volume topped 17,000 in afternoon trading, five times the average flow of 3,400. Most of the activity was focused on the December 5 calls in large blocks of trades, according to OptionMonster's tracking systems.

It is unclear what was behind the heavy options activity in Seagate, which makes computer storage devices. Recently, however, rumors have circulated in the industry regarding possible mergers of competitors, including Toshiba, Samsung and SanDisk.

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Jon 'DRJ' Najarian is a professional investor, CNBC contributor, and cofounder of OptionMonster.