By David Russell, reporter at OptionMonster

NEW YORK - The bulls piled on Tuesday into Halcon Resources ( HK), an independent energy company operating onshore in the United States.

optionMONSTER's tracking programs detected a surge of activity in the January 2015 12 calls, mostly for $1.10. Almost 22,000 contracts changed hands against previous open interest of just 2,607. The May 8 calls were also bought early for as little as 20 cents and then doubled to more than 50 cents as the shares climbed. That gives an idea of the kind of leverage that can be achieved with options.

It works because calls only lock in a right to buy shares, rather than real ownership. It costs little to establish the position, so even a modest fluctuation in the underlying stock price can result in big profits -- like we saw with the May 8s.

Halcon was trading for about $7.40 when the options hit, and then shot as high as $7.74 before closing Tuesday's session up 5.51% to $7.66. It peaked around $12 in early 2012.

The company is the latest of many domestic U.S. energy companies to draw bullish activity in recent sessions. Tuesday also saw call-buying in Nabors Industries, while Oneok Partners and Energy Transfer lit up our scanners on Monday.

Total option volume in HK was 11 times greater than average. Calls outnumbered puts by more than 10-1.

Russell has no positions in Halcon.

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.