CHS – Chico’s FAS, Inc. – Trading in options on the retailer of private branded clothing and accessories was largely dominated by pessimistic investors who appear to be expecting the firm’s shares to continue to slide. CHS shares fell as much as 5.5% during afternoon trading to touch down at a new 52-week low of $8.30 ahead of the company’s second-quarter earnings report scheduled for release ahead of Wednesday’s opening bell. It looks like the majority of options traders populating the stock are throwing in the towel by shedding out-of-the-money calls in the August contract. Bears sold more than 5,100 calls at the August $10 strike for an average premium of $0.05 per contract. Another 1,200 calls were sold at the August $9.0 strike for an average premium of $0.28 a-pop. Investors may be cutting their losses by ditching previously established bullish positions, or could be initiating outright bearish stances by selling short the calls. Traders selling the calls outright keep the premium received on the transaction as long as CHS shares fail to rebound above the strike prices described through expiration on Friday.