Shares of Kate Spade & Co. are down 8.14 to 30.71 today.? KATE is in the middle of the 52 week range.

Today paper traded 1200 KATE Aug 35 calls for .30 and .35.? The ADV is 915 contracts.? The OI is 10 contracts.

Volume went up in 2 blocks.? The total volume on the strike is over 12000 as buyers jump in.? KATE plunged on earnings and the faithful are loading up on upside calls. The calls are offered .15 right now.

30-day implied volatility is 47%.?? 10-day implied volatility is 25%.? 30 day implied volatility is trading above the 10 realized volatility.

Kate Spade & Co, formerly Fifth & Pacific Companies Inc, designs and markets a portfolio of retail-based, premium brands, including JUICY COUTURE, KATE SPADE and LUCKY BRAND.