Options Traders in 'Heavy' Expedia Play

Expedia is attracting heavy call activity Tuesday, as the online travel agency continues to rebound from levels last week that neared its 52-week lows.

The 20-day average options volume for EXPE is 600 contracts per day, but the first hour of today's session alone saw 7,600 calls trade against 1,000 puts. Despite the high volume, however, the buying does not appear to include institutional investors.

Activity is high at the March 7.50 and April 10 strikes, totaling more than 5,500 contracts traded, according to OptionMonster's tracking systems. But only a single block exceeded 200 contracts, the type of trading that often reflects individual traders acting on a newsletter recommendation.

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As of this writing, the stock is up 3.68 percent to $7.60 in midday trading, above its $6 low but far below its $25.50 high. (Ticker reflects current share price.)

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Pete Najarian is a professional investor, CNBC contributor, regular co-host of CNBC's "Fast Money" and co-founder of OptionMonster.com.