Calls on Bed, Bath and Beyond (BBBY) are busy ahead of earnings. 4,510 contracts traded so far, which is 5X the typical volume for midday and compares to put volume of 1,715 contracts. Shares are up 21 cents to $54.27 and July 57.5 calls are the most actives. 1,780 traded against 1,510 in open interest. The contract is 6 percent OTM and expiring in 23 days. Jul 55 and 60 calls are seeing interest as well. Traders are taking positions in BBBY call options and implied volatility is up 7.5 percent to 34.5 ahead of earnings, due after the closing bell today.