By Chris McKhann , analyst at OptionMonster

Traders clearly think the hotel business will improve as Wyndham Worldwide ( WYN) has more than doubled in the last month, and the options are looking for further upside.

Wyndham closed Thursday's session up 10.6% percent to $7. The stock was below $3 just a month ago after bouncing between $2.55 and $8.76 in the last six weeks going into 2009. Shares are still down 60% from their 52-week high above $24 set in May.

The bullish options action is in the April 7.50 calls, where more than 10,000 contracts have been bought, according to OptionMonster's proprietary tracking systems. The largest block of 4,900 was purchased for 20 cents against open interest of just 289 at that strike. The activity suggests that traders are expecting the stock to rise within the next week before the option contracts expire Friday.

At the time of publication, McKhann has no positions in the stocks mentioned.

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