Macy’s call volume above normal and directionally bullish

Bullish option flow detected in Macy’s with 35,133 calls trading, 3x expected, and implied vol increasing over 1 point to 41.09%. 3/10 weekly 21.5 calls and Mar-23 21.5 calls are the most active options, with total volume in those strikes near 27,100 contracts. The Put/Call Ratio is 0.13. Earnings are expected on May 25th.