Jon "DRJ" Najarian, co-founder of OptionMonster.

Options activity was heavy in NetApp ( NTAP) yesterday as the company rolled out new storage and data management technologies that purportedly speed the operation of virtual desktop systems.

NetApp shares closed yesterday up 11% to $16.63, though they had risen by as much as 17% earlier. Options volume exceeded 53,000 calls halfway through yesterday's trading, dwarfing the average of 9,000 for a full session, according to OptionMonster's proprietary tracking systems.

The April 17.50 calls traded 14,100 contracts, the May 17.50 calls traded 12,400 contracts, and the May 19 calls traded 5,900 contracts. The calls at all three strikes were massively more than their respective open interests.

Barron's had published an article speculating that a takeover of Sun Microsystems ( JAVA) by IBM would be negative for NetApp. The collapse of that deal could raise the possibility that Big Blue might consider NetApp instead.

The writer owns shares of NetApp.

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