Call Volume Pops on The Gap

Shares of The Gap, Inc. GPS are trading higher on the session by 0.28%, at $18.22. While the stock has been consolidating for the past two months, following a sharp move lower in mid-May, options traders are turning bullish on the name. Early in the session the July $19.00 strike trade 2,600 times on open interest of 2,968 contracts. The August $19.00 and $20.00 strikes are also active with over 600 contracts traded on each strike. Overall call volume has total 4,000 contracts, which is ~2x the daily average. The Gap, Inc. is a global specialty retailer offering clothing, accessories, and personal care products for men, women, children, and babies under the Gap, Old Navy, Banana Republic, Piperlime, and Athleta brands.