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Delta Air Lines bounced on a strong earnings report today, and one investor is looking for the ascent to continue.

optionMONSTER's Heat Seeker monitoring system detected the purchase of about 4,800 August 10 calls for $0.27 to $0.30 and the sale of some 2,200 August 9 puts for $0.26. Volume exceeded open interest at both strikes, indicating that new positions were initiated.

Apparently the work of a single trader, the activity reflects a bullish outlook for the airline stock. The long calls will make money if the stock pushes toward or above $10. He or she also stands to profit from the puts sold short losing value if DAL stays above $9.

DAL is up 2.89 percent to $9.60 this morning, rebounding from a decline of more than 20 percent since late May. Before the bell, the company reported second-quarter profit of $0.69 on revenue of $9.73 billion. Analysts had expected only $0.68 and $9.68 billion, respectively.

Today's bullish trade pushed total option volume in DAL to more than twice the average amount, according to the Heat Seeker.

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