Oracle Bulls Have Time for a Rally

By Pete Najarian, co-founder of OptionMonster

NEW YORK -- Oracle ( ORCL) is revving up for a big conference, and traders are coming back to the name.

The options lit up with a single purchase of 5,500 March 34 calls for $1.52. It was pretty far out in time and too thrilling yet, but it does bring attention back to the plans of Larry Ellison and Mark Hurd.

Calls lock in the price investors must pay to buy shares, and can generate some nice leverage in the event of a rally. But they will also become worthless if the stock fails to push higher by expiration.

The conference, Oracle Open World 2012, takes place in a little more than a month. Executives will feature insights into industry trends, the latest technology developments and innovations, plus key strategies for achieving business efficiency and innovation.

Oracle fell 0.28% to $31.49 Wednesday.

Najarian has no positions in ORCL.
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.