CREE – Cree, Inc. – The manufacturer of semiconductor materials and devices appeared on our ‘hot by options volume’ market scanner in morning trading due to bullish trading in the August contract. Cree’s shares scurried up 2.3% to stand at $59.68 as of 12:42 pm ET. Investors hoping Cree’s shares will continue to rise ahead of expiration on Friday purchased roughly 1,600 call options at the August $60 strike for an average premium of $0.89 each. Call buyers at this strike stand ready to make money should Cree’s shares rally above the average breakeven price of $60.89 by expiration. Optimistic players picked up another 1,100 calls at the higher August $65 strike for an average premium of $0.11 each. These traders profit if the semiconductor maker’s shares surge 9.1% to exceed the effective breakeven point at $65.11 by Friday. Approximately 18,235 option contracts changed hands on Cree, Inc. by 12:45 pm ET.