Option trading on Exelon Corporation (EXC: sentiment, chart, options) soared on Thursday, as more than 104,400 contracts traded. This volume is more than 38 times the equity's average daily trading volume of 2,716 contracts. Furthermore, 99% of the volume traded on the call side, according to data from WhatsTrading.com.

It appears that the shares of EXC were the focus of a calendar spread yesterday. The July 55 call added roughly 50,000 new positions, resulting in open interest of more than 53,800 contracts. The option saw a block of 47,800 contracts cross the tape at a price of $0.40. Unfortunately, the contracts were marked "late," making it impossible to tell if the options were bought or sold. Meanwhile, the August 50 call added more than 50,000 contracts, pushing open interest up to 51,138 contracts. The call also traded a block of 47,800 contracts at a price of $3.20. However, these contracts were also marked "late."

The Schaeffer's put/call open interest ratio for EXC dropped overnight from 1.20 to 0.14. Call trading has also been brisk on the International Securities Exchange (ISE). More than five calls have been purchased to open for every one put purchased to open during the past 10 days. This ratio of calls to puts is higher than 91.5% of all those taken during the past year, pointing to a growing optimism.

Technically speaking, the shares of EXC have steadily climbed from their March low of $38.41, resulting in a gain of 32% along their 10-day and 20-day moving averages.