DELL – Dell, Inc. – Optimistic options players are selling in- and out-of-the-money put options on the personal computer manufacturer today to position for continued bullish movement in the price of the underlying shares through July expiration. Dell’s shares gained 0.30% to stand at $13.37 as of 2:10 pm (ET), after earlier rallying 1.35% to an intraday high of $13.51. Bullish investors sold roughly 5,000 puts short at the July $13 strike to receive an average premium of $0.54 per contract. Selling spread to the July $14 strike where about 4,600 in-the-money put options were shed for an average premium of $1.03 each. Put sellers at both strike prices keep the premium received today as long as Dell’s share price exceeds $14.00 by July expiration. Investors short the puts at the July $13 strike are apparently happy to have shares of the underlying stock put to them at an effective price of $12.46 each, while investors short puts at the July $14 strike are willing to have shares put to them at $12.97 apiece, should the put contracts land in-the-money at expiration. Dell’s overall reading of options implied volatility is slightly up in afternoon trading by 4.1% to 39.69% as of 2:15 pm (ET).