OptionMonster co-founder Pete Najarian provides options picks Monday, Wednesday and Friday in TheStreet.com's Deep in the Money Calls newsletter.

Mike Yamamoto, managing editor of OptionMonster.

At least one institutional trader is betting that mining company Goldcorp ( GG) will make large gains in the next three months.

Today's trade involves 5,000 calls bought at the October 45 strike price for $0.95, nearly double the open interest, according to OptionMonster's real-time tracking systems. Average call volume for the strike is just 55 contracts.

Goldcorp, which is up 1.9% to $36.77 today, has largely tracked the price of gold as it has risen in the past week. It's the second precious-metals company to show heavy options activity on our systems today, along with Hecla Mining ( HL).

The stock was upgraded yesterday by BMO Capital Markets to "outperform." Goldcorp's shares would need to rise some 25% by options expiration in mid-October for the calls purchased today to be profitable.

Total calls at all strikes outnumber puts by more than 5 to 1, suggesting a bullish sentiment among traders.

The writer has no investments in the holdings mentioned.