Altera Corp. shares are currently trading up about 3.2% on the day.

FORBES: ALTR Makes Bullish Cross Above Critical Moving Average

Before plunking down cold cash for shares in PLD (Programmable Logic Device) makers Xilinx Corp. or Altera Corp. (see feature), be very careful.

FORBES: Not for war orphans

Bearish plays in Altera Corp. options may be profitable propositions for some traders if the company fails to meet or exceed third-quarter earnings estimates when it reports after the final bell tomorrow.

FORBES: Bears Jump Into Abercrombie And Agnico-Eagle Options, Bulls Build Lennar