Shares of Aeropostale Inc. (ARO) are up .16 to 3.52.? ARO is at the bottom end of the 52 week range.

Today paper traded the 1462 ARO Aug 3.5 calls for .20. ?The ADV is 1576 contracts.? The OI is 1735 contracts.

The volume went up in 1 block.? Additional volume jumped to 3741 contracts as .20 buyers were countered with .15 sellers.? The early buy could be closing as the ARO jumped to 3.6 this morning.? The IV is still up and call buyers are jumping into Sep.? This could be takeover spec on the low level for ARO.? Earnings are after the Aug Ordinary cycle.

30-day implied volatility is 75%.?? 10-day implied volatility is 46%.? 30 day implied volatility is trading above the 10 realized volatility.

Aeropostale, Inc., (Aeropostale) is a mall-based, specialty retailer of casual apparel and accessories, principally targeting 14 to 17 year-old young women and men through its Aeropostale stores and 4 to 12 year-old kids through its P.S. from Aeropostale stores.