Liz Claiborne (LIZ) call trading picked up early this afternoon, particularly in the $5Jan issues (volume over 2,700 with open interest 3,300, at leat one block appeared to be traded at the ask up to 65 cents). LIZ shares are currently trading up 8 cents to $4.02 (+2%).
Update (Sept 7th): On Thursday afternoon, LIZ announced that it had hired a turnaround firm (link to Reuters story). Also, LIZ will be presenting at the GS retailing Conference on Sept 9th. LIZ closed at $4.12 on Friday.