JACK – Jack in the Box, Inc. – Investors are hungry for Jack in the Box call options today ahead of the fast food company’s second-quarter earnings announcement tomorrow after the close. JACK’s shares are down roughly 1.00% to stand at $20.20 as of 1:30pm. Pre-earnings bulls traded more than 2,700 calls at the June $22.5 strike against open interest of just 845 contracts. It looks like nearly all of the calls were purchased for an average premium of $0.25 each. Most of the volume was generated by one buyer of 2,000 of the calls this morning. Call buyers profit if shares in Jack in the Box surge 12.6% over the current price of $20.20 to top the average breakeven price of $22.75 by expiration day in June. The rise in demand for calls on JACK helped lift the stock’s overall reading of options implied volatility 10.5% to 41.84% this afternoon. Shares in the owner of Qdoba Mexican Grill have not closed above $22.75 since March 30, 2011.