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• Call buyers go shopping at L Brands
• Futures rebound on European signals
• How bull is sticking with Limited Brands

Limited Brands hasn't traded over $30 since the start of 2007, and one trader apparently thinks that will remain the case over the next two months.

optionMONSTER's tracking systems detected the sale of more than 5,000 November 30 calls for $0.85 against open interest of just 453 contracts. The trade pushed total option volume in the company, parent of Victoria's Secret and Bath & Body Works, to 6 times greater than average.

LTD is up 4.35 percent to $28.79 in afternoon trading after the company reported this morning that its September same-store sales rose 12 percent, almost triple analysts' forecasts. That followed a similarly strong report for August.

The shares have appreciated 21 percent in the last three months and are now challenging the same $29 level where they topped out in April. It's also about the same area that was resistance throughout 2007, so today's call seller may expect shares to halt here or decline.

Separately, some 2,000 October 29 puts were also sold for $0.75 against open interest of just 4 contracts. That reflects a belief that LTD will hold its ground or push higher.

The next scheduled event that could serve as potential catalysts is the release of monthly sales on Nov. 4.

(Chart courtesy of tradeMONSTER)

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