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• What put surge means for materials fund

• IMAX 100% Rate It

The bulls are looking for Imax to keep on running.

optionMONSTER's Heat Seeker tracking system detected the purchase of 5,088 April 29 calls for $0.65 and the sale of an equal number of March 26 calls for $0.60. Volume was below open interest in March but not in April, suggesting that a long position was rolled from one contract to the other.

The investor collected a credit of $0.05 and has an additional month to profit from upside in the movie-imaging company. The break-even price, however, is now $3 higher, which suggests that he or she expect a potentially big move.

IMAX is down 0.81 percent to $25.71 today but is up 40 percent so far this year. Its last earnings report on Feb. 23 was mixed, but investors continue to like its long-term growth plans--especially in emerging markets.

The stock has been stuck around the same $26 area that provided support several times last year. Some chart watchers may expect a big rally if that resistance is broken.

Overall option volume in IMAX is almost 5 times greater than average so far today, with calls outnumbering puts by about 5 to 1.

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