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• Bulls go shopping at Ross Stores
• Audiocast: VIX sends mixed signals
• Bears see quick drop for Kimberly-Clark

• DELL 68% Rate It

Dell is back to prices last seen in early 2009, and buyers have been stepping in.

optionMONSTER's Heat Seeker monitoring program detected the purchase of about 7,500 December 10 calls for $0.21 to $0.22. Volume is more than triple open interest at the strike.

Those contracts lock in the price investors must pay to buy shares in the beaten-down computer maker. They could generate some nice leverage in the event of a rally but will expire worthless if the stock doesn't move in the next six weeks. (See our Education section)

DELL is lower by 1.81 percent to $9.24 in afternoon trading. The stock has lost 40 percent of its value in the last six months as the PC market contracts after years of growth. While the broader backdrop has been negative, option activity has been turning bullish in recent sessions with the shares back to multi-year lows.

The company is also scheduled to report quarterly results this Thursday after the market close.

Total option volume is more than twice the daily average in the name so far today, with calls outnumbering puts by more than 5 to 1.

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