By Pete Najarian, co-founder of OptionMonster NEW YORK ( OptionMonster) -- Patriot Coal ( PCX) saw some heavy call-buying last week, and now the bulls are back. The company, which produces thermal coal, was all over our tracking systems Tuesday after an upgrade from BB&T, which has a $28 target price. Flooding in Australia and strong demand added to the rush. The upside option activity was previously in the January contracts, but now it's call-buying at the February expiration that is looking for the stock to pop. The February 25 calls went for prices from $1.75 to $2.91, and the February 30 calls traded in size for 71 cents to $1.06. The volume at both strikes was more than 7,400. The stock ended the session up 9.8% at a two-year high of $25.88. The shares have rallied more than 150% since the end of August. Overall volume in the name exceeded 75,000 contracts Tuesday, compared with the daily average of about 1,150. More than 50,000 of those were calls, and the puts that did trade were heavily sold. Najarian owns a call spread on PCX.