Options traders are snapping up calls as The Walt Disney Co. bounces off a new 52-week low Tuesday.
The average volume for a full session is 7,200 calls, but more than 20,200 traded in the first hour of today's session alone, according to OptionMonster's tracking systems.
Institutional activity focused on the March 15 calls, while buying at the April 15 strike was almost completely made up of smaller trades, indicating self-directed "retail" investors acting on a newsletter recommendation.
DIS shares have been cut by roughly a third in value since the first week of the year. The stock hit a new low of $15.14 early today but rebounded and is now up 5.45 percent on the session to $16.44 in afternoon trading.
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Jon 'DRJ' Najarian is a professional investor, CNBC contributor, and cofounder of OptionMonster.com.