Braskem is trading near 52-week highs, and yesterday the option paper was bullish on the Brazilian petrochemical company.
OptionMonster's tracking programs show that traders paid $0.60 and $0.65 for the June 17.50 calls. More than 6,100 traded in volume that dwarfed the strike's previous open interest of just 136 contracts, which shows that this is fresh buying.
These calls lock in the price where the stock can be purchased, so they can generate some nice leverage in a rally. The contracts also limit the amount of money that can be lost if shares fail to move or decline.