The Bulls are Back in Alpha Natural Resources

Last Friday, coal producer Alpha Natural Resources

saw unusual bullish option activity with January 2013 $8 call-January 2013 $4 put "risk reversal" trading 25,00 times. It appears that those traders are back for more on Wednesday. This same bullish strategy looks to have traded upwards to 15,000 times, including blocks of 6,000 and 1,000 contracts. The stock is relatively unchanged from Friday's level and has seen no significant news headlines over the last three trading days. The company is slated to report its quarterly earnings on August 8th.