Apellis Pharmaceuticals call volume above normal and directionally bullish

Bullish option flow detected in Apellis Pharmaceuticals with 12,227 calls trading, 3x expected, and implied vol increasing almost 21 points to 105.67%. Jan-24 100 calls and Jan-24 65 calls are the most active options, with total volume in those strikes near 11,300 contracts. The Put/Call Ratio is 0.05. Earnings are expected on February 20th.