Behind the big bet on Dunkin' Brands

Options Action: Dunkin turbo shot?

Investors are hyped up on Dunkin' Brands. Shares of the parent company to Dunkin' Donuts and Baskin Robbins are up 10 percent in just the past 30 trading days. And one options trader thinks there's more dough to be made.

On Wednesday, the stock traded 13 times its average daily volume, with the largest bet being a buyer of 13,000 December 50 calls, which traded for 50 cents.

A call option grants someone the right to buy a stock at a set price within a set time. So, in order for the trade to be profitable, Dunkin' shares would need to rise above the strike price by more than the cost of the trade, or in this case above $50.50 per share at December expiration, or 6 percent higher.

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According to "Options Action" contributor Mike Khouw, this buyer has been predicting a rise in Dunkin' shares since mid-October.

"It looks like this person is rolling a big bullish bet," said Khouw on CNBC's "Fast Money." "Back in October, this person bought 13,000 November 47.50 calls and the stock has rallied since then. Today, they rolled that bet and closed the November position to buy the December calls," he added. "This person expects the rally to continue."

Dunkin' shares have stayed relatively range-bound for the better part of this year, trading at $42 per share on the low end and $48 dollars per share on the high end. This trade would put the stock at its highest level since March.

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