Calls Purchased on Skechers USA (SKX)

Shares of Skechers USA SKX are higher on the session by 1.53%, currently trading at $37.20. The stock has been falling as of late after a strong nine-month rally. SKX appears to have found support near $35.00, though. Options traders are buying calls on the name today. The August $40.00 call was purchased 5,300 times, on or near the offer, on open interest of just 195 contract. This suggests new, bullish positioning on that strike. Call volume is now running at 2.61x the daily average. Skechers U.S.A., Inc. engages in the design, development, marketing, and distribution of footwear for men, women, and children in the United States and internationally. The company offers various products comprising casuals, such as boots, shoes, and sandals for men, and slip-ons, lug outsole and fashion boots, and casual sandals for women; dress casuals; relaxed fit for men; lightweight for men; sandals; and casual fusion under the Skechers USA brand name.