Macy’s call volume above normal and directionally bullish

Bullish option flow detected in Macy’s with 11,852 calls trading, 1.1x expected, and implied vol increasing over 7 points to 37.71%. 9/6 weekly 15.5 calls and Sep-24 16 calls are the most active options, with total volume in those strikes near 7,400 contracts. The Put/Call Ratio is 0.28. Earnings are expected on November 14th.