By Pete Najarian, co-founder of OptionMonster

Mirant ( MIR) is seeing unusually active options trading ahead of the electricity company's annual shareholder meeting on May 7.

The normal volume for Mirant is 1,478 contracts a day, but more than 12,308 changed hands by Monday afternoon. Trading was focused on the April 15 and May 15 options, where upside calls exceeded open interest at both strikes, according to OptionMonster's tracking systems.

Shares of Mirant finished the day up 1.6% to $13.36. The shares are above the 52-week low of $9.11 reached on March 6, but are still some 68% below their highs of $42.21.

At the time of publication, Najarian had no positions in any stocks mentioned.

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