Synchrony Financial is drawing bullish paper.

optionMONSTER's monitoring system detected the purchase of 1,500 May 29.50 calls for $0.70 to $0.73 at the same time on Friday. There was no open interest at the strike before the trade appeared, indicating that this is a new position.

Long calls lock in the price where investors can buy stock, allowing them to profit from a rally with limited capital at risk. Their cheap cost can also generate significant leverage on a percentage basis if shares move in the right direction. (See our Education section)

SYF rose 0.84 percent to $30.08 on Friday and is up 13 percent in the last three months. The last quarterly report on April 22 was bullish. The next quarterly report is estimated for pre-market hours on July 22.

Calls outnumbered puts by a bullish 11-to-1 ratio.

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