Susquehanna options strategist Alison Edwards notes bearish options activity in American Eagle Outfitters (NYSE: AEO) ahead of second quarter earnings announcement on August 29th before the market open, as investors bought ~4k Aug31 26 Puts for $0.70, implying stock has increased potential for downside below $26. An investor also sold 5k Sep 30 Calls at 0.60, suggesting stock’s upside is limited above $30.