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Quest Software is trying to rebound from a huge selloff, and at least one big investor is bullish on the shares.

optionMONSTER's Heat Seeker tracking system detected the purchase of more than 1,500 April 20 calls, most of which priced for $0.99 to $1.08. Volume was almost 17 times the previous open interest in the strike.

QSFT rose 0.59 percent to $18.67 yesterday. The maker of enterprise-management software beat estimates the last time it published earnings on Nov. 3, but its two previous reports missed forecasts.

While the next release date hasn't been announced yet, it will come before those calls expire, so the investor may expect a strong set of financials. (See researchLAB for more)

The stock has lost more than 40 percent of its value between January 2010 and mid-September but has been trying to recover since then. It's been consolidating above its 100-day moving average for the last month, which some chart watchers may consider a bullish sign.

Overall option volume was 270 times greater than average in yesterday's session, with calls accounting for more than 80 percent of the activity.

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