CH Robinson Worldwide (CHRW, news, chart, volatility) is seeing unusual action. Volume is running at 27 times the average daily, with most of the trading focused on the May contracts. The overall positioning seems bullish, as it looks like a ratio spread, where a strategist bought the 12,000 May 50 calls and sold 20,000 May 60 calls. They also sold 20,000 May 35 puts and bought 5,600 May 45 and bought 3,000 May 40 puts. They sold 250,000 shares short. Overall, the risk profile seems bullish, with the best gains at 60 where the short calls expire worthless.