By David Russell, reporter at OptionMonsterPAWTUCKET, R.I. ( TheStreet) -- Hasbro ( HAS) has pushed back near an all-time high and one trader is positioning for a correction in the next two months. OptionMonster's tracking systems Friday detected the purchase of 2,800 May 37.50 puts on the toymaker for $1.15 and the sale of an equal number of May 40 calls for 65 cents in a bearish combo trade. Volume was more than 20 times open interest in each contract. Hasbro's shares rose 0.8% to $38.41 on Friday. The stock is up 20% since Feb. 4, when it gapped higher on better-than-expected fourth-quarter earnings. It also raised its dividend by 25% to $1 a year. The gains have been slowing over the last month as the company struggles to break through $38. Chart watchers may expect resistance at this level because it's where the stock gapped lower and then failed to rally back in August and September 2008. Friday's option strategy is designed to simulate a short position in the stock. It will double the trader's money for every 50 cents that Hasbro stock closes below $37 on expiration. However, because of the short position in the calls, the position will lose money above $40. The trade pushed overall options volume in the name to 17 times greater than average. At the time of publication, Russell had no position in the stock mentioned.