Valvoline (VVV) is a well known oil and gas refining and marketing company. However, despite the popularity of its products, very few options trade on the stock. The average daily volume in VVV options is just 758. As such, it was quite a surprise to see 40,000 contracts trade in VVV June options last week. It looks like the unusual volume came from a very large call spread that appears to be bullish in nature.