L Brands popped on strong same-store sales earlier this month, and the bulls came back to the store on Friday.
OptionMonster's tracking programs detected the purchase of some 3,000 May 48 calls, most of which priced for $1.30 to $1.40, in volume above the previous open interest of 2,110 contracts. There was also heavy trading in the May 50s for $0.55 to $0.61.
Calls lock in the price where investors can buy shares in the retail company, formerly known as Limited Brands. That gives these contracts the potential to generate significant leverage in a rally, but they'll lose most or all their value if the stock drops or doesn't move.