Macy’s call volume above normal and directionally bullish

Bullish option flow detected in Macy’s with 10,080 calls trading, 2x expected, and implied vol increasing over 2 points to 51.50%. 5/24 weekly 19.5 puts and 5/24 weekly 20.5 calls are the most active options, with total volume in those strikes near 3,200 contracts. The Put/Call Ratio is 0.44. Earnings are expected on August 20th.