By David Russell, analyst at OptionMonsterCLEVELAND ( TheStreet) -- After weeks of positioning for Sherwin-Williams ( SHW) to move lower, sentiment swung sharply to the positive side Monday as traders positioned for the paint maker to break out toward the $70 area. The April 70 calls were the most active strike, trading 15,271 times against open interest of just 3,135 contracts, according to optionMONSTER's Heat Seeker tracking system. The aggressive buying drove premiums from 14 cents early in the session to as high as 40 cents. SHW rose 0.7% to $65.76. The stock gapped higher amid bullish guidance on Jan. 26 and since then has been pushing against resistance at the $66 level while making incrementally higher lows. Monday's call buyers are apparently positioning for SHW to stage a quick rally if it breaks free to the upside. The company has been benefiting from unsubstantiated takeover rumors and strength among chemical stocks, which have been outperforming the broader market this year. The call-buying came after heavy put-buying on Friday as an investor positioned for a pullback, and call-selling in late February. Overall options activity in the name has been bearish, with puts constituting an average 63% of the volume over the previous 20 sessions. That proportion changed Monday when calls accounted for 92% of total activity. New money also flowed into the May 75 calls, which changed hands 3,110 times for 20 cents to 40 cents, and the May 70 calls, which traded 1,723 times -- mostly for $1.10 to $1.20. There was no open interest in either strike. Overall options volume in SHW was 13 times greater than average in the session. Russell has no positions in Sherwin-Wiiliams.