The WisdomTree Japan Hedged Equity Fund has been highly volatile this year, and yesterday the bullish option paper was flowing again.
OptionMonster's tracking systems detected the purchase of 9,000 August 47 calls in one print yesterday for $1.20. The volume was above the strike's previous open interest, so this is clearly a new position.
Calls cheaply lock in where the stock can be purchased no matter how far it might rise. They can also generate significant leverage from relatively small moves in the share price.