Wolfspeed call volume above normal and directionally bullish

Bullish option flow detected in Wolfspeed with 10,444 calls trading, 1.8x expected, and implied vol increasing almost 13 points to 80.47%. May-24 25 puts and 5/24 weekly 34 calls are the most active options, with total volume in those strikes near 2,000 contracts. The Put/Call Ratio is 0.35. Earnings are expected on August 21st.