Microchip call volume above normal and directionally bullish

Bullish option flow detected in Microchip (MCHP) with 8,221 calls trading, 3x expected, and implied vol increasing almost 3 points to 37.27%. Dec-24 70 calls and Dec-24 72.5 calls are the most active options, with total volume in those strikes near 6,500 contracts. The Put/Call Ratio is 0.38. Earnings are expected on January 30th.