NEW YORK -- Animal spirits were at work in Zoetis(ZTS) - Get Report on Wednesday. 

OptionMonster's Heat Seeker system detected the purchase of 10,000 April 48 calls for 75 cents to 95 cents in the session. Volume was more than quadruple the previous open interest in the strike, an indication that new money was put to work. 

These calls lock in the price where investors can buy shares in the maker of veterinary medicines. The relatively cheap cost of the options limits the amount of capital at risk up front and can result in significant leverage on a%age basis if the stock rallies. 

Zoetis shares fell 1.6% to $46.27 on Wednesday but are up 58% in the last year. Spun off from Pfizer in 2013, the company has reported strong earnings for three straight quarters. 

Total option volume in the name was 15 times greater than average Wednesday, with calls outnumbering puts by a bullish 20-to-1 ratio.

-- Written by David Russell of

OptionMonster

Russell has no positions in any stocks mentioned.