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Bulls Snap Up Adobe Options at Lows

Adobe Systems is near its 52-week lows, but upside option action burned brightly yesterday.

OptionMonster's real-time tracking systems detected buying in the October strikes early, with the 29 calls trading up to $0.45 and the 30s fetching $0.34. Later in the session the September 26s lit up our screens for $0.16 to $0.22 as trades braced for a run in the next few sessions.

Almost 33,000 Adobe contracts traded in total, and more than 31,000 of those were calls . Most of the blocks were 100 contracts or fewer, so they were not institutional in size, but overall volumes were strong.

ADBE fell 0.08 percent to close at $25.18. The software maker's shares had been trading above $30 for most of the year, hitting a 52-week high of $35.99 in May.

Second Opinion: Time to Invest in Technology?

—Najarian has no positions in ADBE.

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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.

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