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Constellation Brands is pulling back, and the bulls are getting in the spirit with the alcoholic-beverage company.

optionMONSTER's Heat Seeker system detected the purchase of more than 9,000 April 32.50 calls, most of which priced for $3.39. Volume was more than 600 times open interest at the strike before the trade appeared.

Long calls lock in how much investors must pay to buy a stock, so they can generate major leverage in the event of a rally. But these options can lose most or all of their value if the shares fail to move. (See our Education section)

STZ rose 0.82 percent to $32.76 yesterday. It's been exploding higher since late June, when it took over selling Corona beer in the United States. The shares has fallen in the last week, and yesterday's call buyer apparently thinks that the stock is at a good entry point.

The trade occurred less than $0.20 from the bottom of the stock's range in the session and was followed by a rebound in the share price. Total option volume in STZ was 24 times greater than average.

(A version of this post appeared on InsideOptions Pro yesterday.)

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