Betting big on sweet returns in this junk food stock

Options Action: Munching on Mondelez

Mondelez may soon bounce from its five-month lows if one trader is correct.

The most active options traded in the stock on Wednesday were June 35-strike calls that went for around $1.25. Roughly 2,000 contracts were bought at that strike price, meaning there was a $250,000 bet that Mondelez will gain nearly 6 percent by the start of the summer.

Overall, the stock saw two times its average daily options volume with 4 out of 5 being call options. Calls are a bullish bet giving the buyer the right to purchase a stock at a given price on a set date.

According to CNBC contributor Mike Khouw, the purchaser was most likely an institution.

"Someone was buying blocks of a couple hundred at a time electronically," said Khouw. "It's not likely that a retail customer would buy options blocks representing 25,000 shares at a clip."

Of course that wouldn't be the first time an institution has made a bullish bet on Mondelez. The most notable has been Nelson Peltz's Trian, which owns almost 3 percent of the stock.