By Pete Najarian, co-founder of OptionMonsterNEW YORK -- Walgreen ( WAG) is starting to find some mojo, and upside option activity is picking up in the name. The stock broke lower almost a year ago, but in the last few days it's been moving up to multi-month highs. UBS also added Walgreen to its "most preferred" list, betting the drugstore chain would resolve its disputes with Express Scripts ( ESRX). And now Walgreen's finance chief is scheduled to discuss the company's strategies for becoming the country's first choice for health and daily living on April 24. Trading was heavy Wednesday in the May contracts, especially the May 37 calls. More than 5,000 of those changed hands in sizable blocks for 55 cents to 67 cents, according to OptionMonster's real-time tracking systems. The May 35 calls and May 36s were busy as well. Those contracts lock in the price investors must pay to own the stock. They can deliver significant leverage if Walgreen rallies but also run the risk of losing some of all their value if the shares don't move. The stock rose 1.25% to $35.51 Wednesday. Almost 36,000 calls traded versus 16,000 puts. Total option volume in the name was twice its daily average. Najarian has no positions in WAG.