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Nordstrom is flirting with long-term highs, and one bull is sticking with the trade.

optionMONSTER's Heat Seeker monitoring program detected the purchase of about 1,700 October 60 calls for $0.98 to $1 and the sale of a matching number of September 57.50s for about $1.25. Volume was below open interest in the Septembers, but not October, which indicates that an existing long position was closed and rolled to the higher strike.

The investor collected a credit of about $0.25 and has an additional month of upside exposure to the name. He or she probably bought the September contracts when the retail stock was lower and is now adjusting the trade to stick with a winning bet.

JWN rose 1.29 percent to $57.35 in morning trading, and is up more than 50 percent in the last year. Its last earnings report on Aug. 9 beat expectations thanks to better results at its Rack discount chain. July same-store sales were also strong.

Shares are currently near the $57.75 level where they peaked in May, and are about $2.50 from their all-time high of $59.70 established in early 2007.

Overall option volume is almost triple the average amount so far today, with calls outnumbering puts by 37 to 1.

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