By Pete Najarian, co-founder of OptionMonster

NEW YORK -- Textron ( TXT) has been flying, but does it have further to go?

Buyers moved into the April 30 calls, paying 32 cents and 33 cents when the shares were still in the red. The stock then rebounded, and those calls pushed as high as 43 cents, according to OptionMonster's real-time tracking systems. More than 4,500 traded versus previous positioning of just 79 contracts in the strike.

Those calls lock in the price investors must pay for the stock. They can deliver some major leverage if Textron pushes higher but will expire worthless if it doesn't move.

The stock closed at $27.71, up 0.73%. Textron operates in the aircraft, defense, industrial, and finance businesses worldwide. Its Cessna segment manufactures business jets, single-engine utility turboprops, single-engine piston aircraft, lift solutions and parts. It also provides maintenance, inspection, and repair services.

Textron has really been performing well and flying to the upside since September, when it was down around $15. Now Friday's traders are looking for more.

More than 6,400 calls crossed our systems against just 900 puts, reflecting the bullish sentiment. Total volume was also about five times normal levels in the name.

Najarian owns TXT calls.

This commentary comes from an independent investor or market observer as part of TheStreet guest contributor program. The views expressed are those of the author and do not necessarily represent the views of TheStreet or its management.