You can add another one to the 52 week high list with dedicated security technology company McAfee (MFE). Shares are seeing a surge in volume with a 4% rally in today's trading. Option traders are looking for more upside with shorts selling into what was resistance at $40.60. Option traders are focusing on the July 45 call strike where 5,730 of the 7,526 total contracts have traded, exceeding the current open interest by 500%. Oder flow is taking a bullish bias with 80% of the calls trading on the ask-side of the market. The top trade so far is a purchase of 500 July 45 calls for .10 cents.

(MFE) is scheduled to unveil the new version of its security software on July 7th. Shares have broken a bullish wedge with the surge of volume to confirm it. Look for shares to pull back and touch prior resistance before the next move higher.

(This is a version of what appeared in our Trader Pro Service today)

Activity in (MFE) finished with 10,600 calls crossing the tape vs 3,100 puts. The July 45 call strike finished with 7,257 calls traded.