Bernie Schaeffer is a leading expert on options, with a noted expertise in combining fundamental, technical and sentiment-based strategies. Here are two bullish tech sector plays from his premium trading service, Schaeffer's Option Advisor.

The shares of cybersecurity name Zscaler (ZS) are outperforming the broader market, up more than 106% year-over-year. The stock bounced off its 30-day moving average earlier this month, and more recently the $272 level, the latter of which is 17 times its IPO price of $16.

Now, Zscaler stock is within chip-shot of its Sept. 7, all-time high of $293.44, and is currently sitting above a trendline connecting lower highs since that peak. With these levels of support in place, now is an opportune time to buy calls on ZS.

Short sellers have been piling on the stock, leaving it ripe for a short squeeze. Short interest rose 53% since mid-March, and now makes up 8.4% of the security’s available float.

There's similar pessimism among options traders, where put open interest outflanks call open interest. Lastly, the equity’s SVS comes in at 96 out of 100. This means Zscaler stock has often realized higher volatility than the options pits have priced in, making it an ideal premium-buying candidate.

RECOMMENDATION: Buy the January 21, 2022, 270-strike call.

Tech name Blackberry (BB) just came off a positive post-earnings reaction, besting analysts’ estimates on both its top- and bottom-lines. It’s been a promising year for BlackBerry stock, which is up nearly 60% year-to-date and up 120% year-over-year.

Plus, the stock’s pre-earnings close from last week sits above the recommended strike price, which could provide potential support going forward.

Despite the equity’s upward trend, analysts are still not convinced, which could lead to bull notes down the road, especially in the wake of this week's top-line beat. Of the six in coverage, two say "hold," and four call it a "strong sell."

Additionally, short interest represents 8.4% of the stock’s available float after sitting at a multi-year peak in May. This means any short covering activity should be supportive of potential pullbacks from the security.

RECOMMENDATION: Sell the October 15, 2021, 9-strike put.

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