By David Russell, reporter at OptionMonsterNEW YORK -- NXP Semiconductors ( NXPI) is back on the bulls' radar. OptionMonster's tracking systems detected the purchase of more than 1,700 August 22.50 calls, most of which priced for $1.40. Volume was more than triple the previous open interest, indicating that these are new positions. Those calls lock in the price investors must pay to buy shares in the company, whose chips are used in wide array of applications, including automotive, wireless, and lighting products. They can generate significant leverage in the event of a rally but will expire worthless if the stock doesn't move. The chipmaker's shares fell 0.94% to $22.13 Monday. The stock rallied from about $15 to $27 between January and late March, then pulled back below $20 and has been working its way higher since. Investors have recently been focusing on the company's technology being used in near-field communications (NFC), which will let people charge their credit cards by tapping their cell phones. The last earnings report in April was strong as management issued bullish guidance. Shares also gapped higher with no clear headline on June 29 and have been holding their ground since. The next set of quarterly results comes out before the bell on July 24. Overall option volume was seven times greater than average in the session, with calls outnumbering puts by 16 to 1. Russell has no positions in NXPI.