By David Russell, reporter at OptionMonster

NEW YORK ( OptionMonster) -- Huntsman ( HUN - Get Report) popped at Tuesday's open, and the bulls stepped in on a pullback.

OptionMonster's real-time systems initially detected buying in the November 12 calls for 55 cents, with an even 2,000 contracts changing hands in the first hour of trading. The chemical company's stock then advanced, and those calls would fetch as much as 78 cents later in the afternoon.

More than 4,000 had traded by the end of the session, quadruple the existing open interest in the strike. There was also modest buying in the October 13 calls, though volume was below previous positioning in that contract.

Huntsman's stock opened higher, pulled back, and then attempted to rally. But it ended down 2.44% at $10.41 as sellers took profits across the market in the final hour of trading.

The chemical company reported some extremely bullish financials earlier in the year, but then margins got squeezed by inflation and the bears cut its value in half.

Overall options volume was seven times greater than average, with calls outnumbering puts by 10 to one.

Russell owns HUN shares.

This commentary comes from an independent investor or market observer as part of TheStreet guest contributor program. The views expressed are those of the author and do not necessarily represent the views of TheStreet or its management.