Calls Purchased on Saks Inc. (SKS)

Shares of Saks Inc. SKS are higher on the session by 3.37%, currently trading at $8.28. The stock has been gyrating lower over the past two months and is now in a technical downtrend. Options traders are betting on a bit of rally today. The August $10 call was purchased 1,935 times, on the offer; open interest on the strike is 3,837 contracts. Call volume is now running at 2.2x the daily average with 80% of all calls traded being purchases on the offer. Saks Incorporated is a fashion retail organization offering a range of distinctive luxury fashion apparel, shoes, accessories, jewelry, cosmetics, and gifts.