By Pete Najarian, co-founder of OptionMonster

Options traders were snapping up calls in UnitedHealth ( UNH) Tuesday amid new hopes that health care policy changes might be less harmful to the industry than originally thought.

Trading was focused on the August 30 calls, in which 12,309 contracts went for 35 cents all the way up to $1.05 in a strong buying pattern, according to OptionMonster's tracking systems. Open interest was just 1,026 contracts at the strike, which has averaged only 78 calls a day in the last month.

Last Tuesday, the health services company reported second-quarter profits that more than doubled from levels of a year ago. UnitedHealth also expects this year's revenue growth in public and senior business to more than offset the potential for further pressure from the employer market.

The stock rose 5.3% Tuesday to $29.08, but would need to gain at least another 8% in the next month for all the purchased August 30 calls to turn a profit. The shares have tested but failed to stay above the $30 level on previous runs in February and May.

At the time of publication, Najarian owned UNH calls.

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