Cypress Semiconductor (CY) shares are up 3.4% to $9.60, a new 52- week high and have gained some 35% in past two months. Option volume is 5x daily volume as looks like people trying to lock in gains. In July the $10 puts saw buying with 5,105 contracts against just 54 of prior open interest as someone likely using these ITM puts to lock in through Friday’s expiration. The July calls saw the $9/10 spread trade 1,500 times. The later dated Sep. $10 calls traded 5,000 contracts in what looks like opening sale and possible overwriting.