NEW YORK (TheStreet) -- Shares of Chinese e-commerce site JD.com  (JD) - Get Report rose 2.93% to $29.85 in afternoon trading Tuesday as bulls moved into the stock for some unusual levels of call buying.

optionMONSTER's Heat Seeker monitoring program noted the purchase of approximately 4,400 Weekly 30 calls expiring on Friday, April 10, including a large block for $0.70. A few minutes later, another 2,900 of the May 30s were bought, mostly for $1.30. Volume was more than 13 times open interest at both strikes.

More than 13.5 million shares had changed hands as of 2:34 p.m., compared to the daily average volume of 7,425,610.

Insight from TheStreet's Research Team:

Bob Lang, co-manager of the TrifectaStocks.com portfolio, had this to say about JD.com:

China stocks have been roughed up a bit lately as it appears their economy may be slowing down, and nothing symbolizes that more than Alibaba BABA. This behemoth is the elephant in the room as it relates to Internet commerce/retail in China and beyond. BABA has been hammered mercilessly since hitting a high near 120. But this little JD.com is making some headway, and if the chart/technicals are right this may be the better play.

The large cup with handle formation, such a reliable pattern for so long has emerged and now the stock is breaking upward, carving out the right side of a base. Volume has picked up as well, but notable is the heavy option flow in calls, buyers in various strikes (bullish). The MACD is about to flash another buy signal and momentum indicators are overbought. The old high is just about 12% above here.