Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: Shares of Universal Display (Nasdaq: PANL) rose more than 14% in early trading amid a massive increase in options activity.

So what: According to market tracker tradeMONSTER, Universal Display had seen an options trading volume 396% above average at the midway of the trading session. We can’t be sure what the activity means, but the underlying boost in the shares could mean Big Money investors redeemed in-the-money calls for shares.

Now what: Either way, it appears Wall Street’s big names are getting behind the stock in the wake of a Goldman Sachs upgrade. Sourcing deals with Samsung and LG Display (NYSE: LPL) may also be fueling enthusiasm. Do you agree? Disagree? Please weigh in using the comments box below.

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Fool contributor Tim Beyers is a member of the Motley Fool Rule Breakers stock-picking team. He didn’t own shares in any of the companies mentioned in this article at the time of publication. Check out Tim's portfolio holdings and Foolish writings, or connect with him on Google+ or Twitter, where he goes by @milehighfool. You can also get his insights delivered directly to your RSS reader.

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