Options on clothing maker Bebe Stores (BEBE, news, chart, volatility) are seeing a spike in call volume ahead of earnings, due out after the close today. Stock is relatively flat today, near 7.50, and 1250 of the Jan-09 10 calls were bought for 30cents just before 1pm. In addition, Dec 10 calls were bought to open last week for 20cents, suggesting possible positioning to profit from an upside move. 52w low for shares was set last week at 6.13, and current share level is about half the year-ago price.