All of the sudden, shares of Hilton have gotten awfully hot among options traders.
"We went from having a 10-day average daily volume of call options of roughly 1,000 contracts to trading 50,000 calls over the last five days," said Stacey Gilbert, head of derivative strategy with Susquehanna.
"When you're looking at anywhere from the July to the October timeframe, we're seeing buyers, and we're seeing people position for the stock to go north of $30," she added.
Given that Hilton shares closed at $28 on Friday, that represents at least 7 percent worth of upside from current levels.
Interestingly, no one critical event is ahead for the company. Although the options trades were bullish, Hilton shares actually fell by 2 percent last week.
Jim Strugger, derivatives strategist at MKM Partners, told CNBC in an email that there are a "lot of possible catalysts ahead," including that the company is "expected to announce dividends with its next earnings, a potential spin of lodging assets into a REIT structure, and a spin of its timeshare business."