There probably aren’t enough “industrial” stocks in Canada to warrant an index and a corresponding tracking fund. But Canadian industrials have been on something of a roll, as economic growth gathers momentum.

In the general excitement over commodities and commodity stocks, like mining, oil and gas, and agriculture, the seemingly dull, plodding industrial sector gets pushed way down on the playbill. Yet these companies – in transportation, engineering, heavy equipment, and infrastructure - have sprung to life with the economic recovery.

Canadian National Railway Co. (TSX: CNR, recent price $67.55), for example, reported an 18.6% year-over-year increase in fourth-quarter earnings, after special items, on revenues of $2.1 billion. Finning International Inc. (TSX: FTT, $29.31) sells and leases heavy equipment in Western Canada, the UK, and South America, and business is booming. SNL-Lavalin Group Inc. (TSX: SNC, $59.41) is a global engineering and infrastructure company with operations in 100 countries.

More aggressive options traders might consider taking bullish positions in optionable industrials like these, betting on still more upside as global economic growth expands for another year, but especially in the US.

The most straightforward strategy is to buy calls on the three aforementioned companies. Especially now, as options are relatively inexpensive. With CNR you might consider buying the June 68 calls at $2.50 per share. For FTT, the June 30 calls at $1.50 look interesting. And finally, SNC, consider buying the June 60 calls at $3.05.