Macy’s call volume above normal and directionally bullish

Bullish option flow detected in Macy’s with 3,777 calls trading, 1.2x expected, and implied vol increasing over 1 point to 45.09%. 5/24 weekly 18 calls and 5/24 weekly 21 calls are the most active options, with total volume in those strikes near 1,300 contracts. The Put/Call Ratio is 0.30. Earnings are expected on August 20th.