Calls Purchased on Guess Inc. (GES)

Shares of Guess Inc. GES are lower on the session by 5.64%, currently trading at $36.36. The stock has been moving largely sideways for the past three months, following a sharp sell off in early May. Options traders are buying calls on the day today, betting that the stock can rally from here. The August $40.00 call was purchased 1,400 times, on the offer, a short while ago; open interest on the strike is only 225 contracts. This signals new, bullish positioning on the name. Call volume is now running at 5.26x the daily average. Guess?, Inc. designs, markets, distributes and licenses lifestyle collections of contemporary apparel and accessories for men, women and children. The company's apparel is marketed under numerous trademarks including GUESS, GUESS?, GUESS U.S.A., GUESS Jeans, GUESS? and Triangle Design, MARCIANO, Question Mark and Triangle Design, a stylized G and a stylized M, GUESS Kids, Baby GUESS, YES, G by GUESS, GUESS by MARCIANO and Gc.