Shares of BlackBerry Limited(NYSE:BB) -- the one-time smartphone maker, now security software specialist -- climbed steadily throughout the trading day Friday, ultimately ending with a 10.8% gain by the closing bell.

There doesn't appear to be any obvious news behind the stock's rally today, except for one thing: According to data from TheFly.com, options activity was unusually bullish in BlackBerry trading today, with 20% more call options being purchased than usual. This is a bullish signal because the buying of "calls" permits a contract buyer to force a contract seller to sell the stock at a certain price up to a set time in the future.

Options traders buy calls, of course, when they expect a stock to go up -- the idea being to gain the right to purchase shares at a price below where the stock's market price ends up. In the case of BlackBerry, the ratio of calls to puts (options that confer the right to sell the stock at a set price -- a bearish bet) trading today was 10-to-1 -- and that seems very bullish indeed, or at least shows great optimism on the part of options traders.

More in category

Mortgage rates drop below 3% again — offering opportunities to buyers and homeowners
April 22, 2021MarketWatch
Mortgage rates drop below 3% again — offering opportunities to buyers and homeowners
‘Sales have a good deal further to fall’: Property prices see record growth, but existing-home sales decline
April 22, 2021MarketWatch
‘Sales have a good deal further to fall’: Property prices see record growth, but existing-home sales decline
‘Massive helicopter drop of money’ from Fed and Washington raises inflation risk, says manager of $88 billion bond fund
April 22, 2021MarketWatch
‘Massive helicopter drop of money’ from Fed and Washington raises inflation risk, says manager of $88 billion bond fund
Opinion: With SPACs down as much as 90%, there are finally some good buys
April 21, 2021MarketWatch
Opinion: With SPACs down as much as 90%, there are finally some good buys
Here are the biggest risks to oil’s rally
April 22, 2021MarketWatch
Here are the biggest risks to oil’s rally
Oregon: CDC investigating woman’s death after J&J vaccine
April 22, 2021MarketWatch
Oregon: CDC investigating woman’s death after J&J vaccine
Why Coinbase could be the Google of cryptocurrencies
April 20, 2021MarketWatch
Why Coinbase could be the Google of cryptocurrencies
Opinion: 8 steps to repair your finances (and life) as we emerge from the pandemic
April 22, 2021MarketWatch
Opinion: 8 steps to repair your finances (and life) as we emerge from the pandemic
Should I invest an IRA in bitcoin? How do I roll over old assets? These financial pros answer our retirement questions
April 22, 2021MarketWatch
Should I invest an IRA in bitcoin? How do I roll over old assets? These financial pros answer our retirement questions
Et tu, boomer? Millennial stock-traders aren’t all that different, one analyst argues
April 22, 2021MarketWatch
Et tu, boomer? Millennial stock-traders aren’t all that different, one analyst argues
Biden has pledged to tax the rich — but precisely how will he do that? Experts consider his options
April 22, 2021MarketWatch
Biden has pledged to tax the rich — but precisely how will he do that? Experts consider his options
My coworker wants to sell her house as prices have skyrocketed. The co-signer on her mortgage demands 25%. Can she sell without his permission?
April 22, 2021MarketWatch
My coworker wants to sell her house as prices have skyrocketed. The co-signer on her mortgage demands 25%. Can she sell without his permission?
Zombies, robots and big unknowns lurk as the U.S. economy recovers from pandemic
April 22, 2021MarketWatch
Zombies, robots and big unknowns lurk as the U.S. economy recovers from pandemic
Opinion: Warren Buffett could teach traders in dogecoin, GameStop and other hot trends a few things about ‘Mr. Market’
April 22, 2021MarketWatch
Opinion: Warren Buffett could teach traders in dogecoin, GameStop and other hot trends a few things about ‘Mr. Market’
Invest in electric-vehicle batteries, water tech and crypto applications to ride the green wave, says UBS
April 21, 2021MarketWatch
Invest in electric-vehicle batteries, water tech and crypto applications to ride the green wave, says UBS
Is the U.S. housing market heading for a crash? Here’s what the experts say
April 21, 2021MarketWatch
Is the U.S. housing market heading for a crash? Here’s what the experts say
Bitcoin bears are stalking crypto prices — here’s how low they could go
April 21, 2021MarketWatch
Bitcoin bears are stalking crypto prices — here’s how low they could go
Dogecoin army’s campaign to drive crypto to $1 was a bust — so why are the bulls feeling vindicated?
April 21, 2021MarketWatch
Dogecoin army’s campaign to drive crypto to $1 was a bust — so why are the bulls feeling vindicated?
Biden pledges to cut U.S. greenhouse gases 50% by 2030 — with major implications for oil and gas sector
April 20, 2021MarketWatch
Biden pledges to cut U.S. greenhouse gases 50% by 2030 — with major implications for oil and gas sector
‘The more we talk about it, the more we’re validating the symptoms’: What we know about COVID vaccine side effects in women
April 18, 2021MarketWatch
‘The more we talk about it, the more we’re validating the symptoms’: What we know about COVID vaccine side effects in women
Bond traders betting on hotels or shopping malls now have Big Data at hand
April 22, 2021MarketWatch
Bond traders betting on hotels or shopping malls now have Big Data at hand