Bilibili call volume above normal and directionally bullish

Bullish option flow detected in Bilibili (BILI) with 11,734 calls trading, 1.9x expected, and implied vol increasing almost 2 points to 58.93%. Oct-25 20 calls and Jul-25 35 calls are the most active options, with total volume in those strikes near 7,000 contracts. The Put/Call Ratio is 0.20. Earnings are expected on May 29th.