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Bilibili call volume above normal and directionally bullish

Bullish option flow detected in Bilibili (BILI) with 26,616 calls trading, 1.9x expected, and implied vol increasing over 4 points to 91.22%. Jul-25 26 calls and Jun-25 24 calls are the most active options, with total volume in those strikes near 12,500 contracts. The Put/Call Ratio is 0.27. Earnings are expected on May 29th.

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