General Electric (NYSE:GE) Attracting Option Trader Interest Before Earnings Report

General Electric (NYSE:GE) will release their earnings report Friday morning, and option traders have been have been buying up April calls in response.

While the April calls were diverse, it appears the 21st was of particular interest, where over 13,000 calls changed hands in a solid buying pattern for $0.12 to $0.15 against open interest of 3,732 contracts.

For those to generate a profit for the buyers, General Electric's share price would have to increase by over 14 percent by the middle of April.

That's not an easy task since GE hasn't seen a $21 strike price since the latter part of 2008.

GE has moved from $16 to $19 a share since December 1, and if they can keep their momentum, could reach the $21 strike price in about three months.

General Electric was trading at $18.57, gaining $0.24, or 1.28 percent, as of 2:41 PM EST.