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• Huge trade sees cap on utility gains
• PPG Industries attracts bullish play

• HLF 58% Rate It

Herbalife has been on a monster run, and the bulls are looking for new highs.

optionMONSTER's Heat Seeker tracking program detected the purchase of about 2,100 May 70 calls for $2.30 yesterday. An equal number of May 72.50 calls were sold at the same time for $1.50.

The trade resulted in a cost of $0.80 and will earn more than 200 percent if the high-flying weight-loss stock closes at or above $72.50 on expiration. That's slightly above its all-time high of $72.11 last month.

HLF fell 0.96 percent to $68.26 yesterday but is up more than 50 percent in the last year. The company has been riding a wave of strong demand for its services--especially in emerging markets, which represent more than four-fifths of its revenue.

Earnings have consistently beaten expectations, and yesterday's option trade is apparently a bet the next report on April 30 will also be strong. The strategy is known as a bullish call spread because it leverages a move between two price points. (See our Education section)

Total option volume in the name was almost twice the average amount in the session. Calls outnumbered puts by a bullish 4-to-1 ratio, according to the Heat Seeker.

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