Unusual action in Charming Shoppes (CHRS, news, chart, volatility) calls today, as shares sit near $2.36, 66% below the 52w high of $7 (but nearly 4x the 52w low of 57cents). One trader appears to be making a relatively long-term bullish play, with a buy of more than 5000 10 strike calls that expire in Jan-2010 for 65cents, lifting implied vol at the strike nearly 27 points to 157%. Data shows at least a portion of the buying was opening for a customer account, but professionals appear to be confortable selling into the demand, with 65cent offers showing despite shares lifting a few pennies.