BP call volume above normal and directionally bullish

Bullish option flow detected in BP with 7,336 calls trading, 1.1x expected, and implied vol increasing almost 3 points to 28.09%. 5/10 weekly 39.5 calls and 5/10 weekly 38 puts are the most active options, with total volume in those strikes near 3,000 contracts. The Put/Call Ratio is 0.43. Earnings are expected on May 7th.