Celestica’s stock surged 5.10% during pre-market trading on Monday as investors positioned themselves ahead of the company’s fiscal second-quarter earnings report, which is scheduled for release after the market close.

The upward move was accompanied by unusually high options activity, with pre-earnings options volume running at 2.3 times the normal level and calls outpacing puts by a ratio of 8 to 3. Implied volatility in the options market indicated that traders were bracing for a significant post-earnings swing of approximately 10.5% in the share price.

The rally reflects growing optimism among market participants regarding the upcoming results, as the lopsided call buying suggests bullish sentiment ahead of the announcement.