Upside Purchased on Mellanox Technologies (MLNX)

Shares of Mellanox Technologies LTD MLNX are lower on the session by 1.89%, currently trading at $21.83. The stock has been consolidating throughout the past two months after a nice move higher throughout March and April. Options traders are betting that the stock could continue its run higher. Though action has been primarily in small lots, call volume is now running at 28x the daily average with over 92% of all calls traded being purchases on the offer. Traders are focusing on the $20.00 and $25.00 strikes in multiple months. Mellanox Technologies, Ltd., a fabless semiconductor company, engages in the design, development, marketing, and sale of interconnect products based on semiconductor integrated circuits (ICs) in North America, Israel, Europe, and Asia. The company’s products primarily focus on computing, storage, and communication applications used in enterprise data centers, computing, and embedded systems.