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Take-Two Interactive Software has been falling all year, but one buyer appeared late in yesterday's session.

optionMONSTER's Heat Seeker monitoring program detected the purchase of 12,500 August 10 calls for $0.30 against open interest of 5,371 contracts. All the volume occurred in the final 15 minutes of trading, indicating activity by a large institutional player.

The trades came after a surge of midday selling in the shares, which drove total stock volume in the beaten-down videogame maker to its highest level since November. The stock touched its lowest level in almost two years before rebounding to close with a gain of 0.44 percent at $9.16.

Some investors may consider that price action as capitulation, potentially marking a bottom and indicating that TTWO is ready to rebound. There was also bullish activity in the stock on Monday as investors sold the December 8 puts and bought the December 11 calls.

The company has been fighting secular headwinds as business migrates to the Internet, even though TTWO's last three earnings reports have beaten expectations on the top and bottom lines.

Overall option volume was 9 times greater than average in the name, with calls outnumbering puts by 41 to 1.

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