Hasbro shares rose 0.36 percent on Friday to close at $33.84. The toy maker had been drifting lower since hitting resistance above $37 in early May, but bounced off a seven-month support level last Monday and has been rallying back sharply.
For Friday’s long calls to turn be profitable, Hasbro needs to gain at least 5 percent or 6 percent by expiration in a month. Total option volume in the name was about 12 times its daily average, with 11,600 calls outnumbering 4,800 puts at all strikes.
—By CNBC Contributor Pete Najarian
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Pete Najarian is a professional investor, CNBC contributor, regular co-host of CNBC’s “Fast Money” and co-founder of OptionMonster.com. Najarian owns a call spread in Hasbro.