By Pete Najarian, co-founder of OptionMonsterNEW YORK -- Hewlett-Packard ( HPQ) has provided shareholders plenty of reason for concern, but Thursday option traders were bullish on the computer company. Option volume exploded with more than 178,000 contracts changing hands, compared with a daily average of just 32,000. Overall calls in the name outnumbered puts by more than 3 to 1 Thursday, a reflection of the day's bullish sentiment. OptionMonster's tracking systems show that calls with a $25 strike price were active in all months trading, with heavy buying in contracts that expire Friday, next Friday, and in May. The Weeklies traded for 13 cents to 17 cents, while the standard April 25 calls fetched 25 cents to 40 cents. The May 25s ended the session at 93 cents. Those calls lock in $25 as the entry price for the stock, so they can deliver major leverage compared to the share price. If the stock keeps rallying they could easily double, triple, or more. But if it drops even a little, those options will end up worthless. Hewlett-Packard started strong Thursday and closed at $25.10, up 7.22%. The stock came into the session as the weakest member of the Dow Jones Industrial Average on the year. Najarian owns HPQ shares.