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• WFR 100% Rate It

One investor doesn't want to leave money on the table if MEMC Electronic Materials has a strong earnings report.

optionMONSTER's Heat Seeker tracking program detected the purchase of 6,500 November 2.50 calls for $0.14, and the sale of an equal number of December 3 calls for $0.10. Volume was below open interest in the November contracts but not the Decembers, indicating that an existing short position was rolled from one contract to the other.

The investor probably owns shares in the solar-energy company and had previously sold the November calls to earn income . By adjusting to the December expiration, he or she had to pay an additional $0.04 but now stands to make $0.50 more on the share price if it goes to $3. (See our Education section)

WFR is down 2.52 percent to $2.32 near midday trading. It's down more than 60 percent in the last year amid a selloff in the solar industry but has been working its way higher since May.

Earnings come out before the bell on Nov. 7, so today's trader may expect another strong set of numbers following August's bullish report. Overall option volume is 14 times greater than average so far today, with calls outnumbering puts by more than 80 to 1.

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