Bearish Call Activity in Ann Taylor

Ann Taylor (NYSE: ANN) is seeing a lot of call activity today, but that would not suggest bullish. Overall call volume is running at 6x the normal volume, but only 2% of the transactions have occurred on the bid, which indicates that the contracts have been majority sold.

Ann Taylor is seeing action on the May $22.50 and $25.00 call strikes, as well as on the $25.00 call strike in June. Volume is running at 2k, 3k, & 4k respectively, with only the June 25s exceeding open interest.

Ann Taylor is currently trading higher on the session by 6.40% to $24.10.