The earnings schedule is getting thinner and thinner, especially during this shortened week. Next week isn’t much better, with just a few S&P 500 companies on the docket. We had to do some digging, but we came up with a stock that can’t seem to get much love … from anyone.

It’s Barnes & Noble, Inc. (NYSE: BKS), the brick-and-mortar bookstore that is swimming against the e-retail tide. You know the story: Paper books are old school, especially when sold from a store you have to drive to. But BKS continues to swing away. It’s wading into the holiday season with sales and deals that compete with the best. And its Nook e-reader has made a respectable showing in the face of intense competition from Amazon.com, Inc. (NASDAQ: AMZN) and Apple Inc. (NASDAQ: AAPL).

We’re not saying that BKS is going to blow the doors off earnings. Quite the contrary. But expectations can’t get much lower. Analysts are calling for an 8-cent loss, a penny better than the whisper number. The Street has lowered its fiscal 2012 outlook from a small profit to a small loss. Short-selling is huge on BKS, putting the company in the top 10 of “days to cover” stocks. And no analyst has a “buy” rating on the shares. You get the point.

But here’s the rub” In five of the past six quarters, the shares have gained ground the day after reporting. Hmmm, could it be that the company overcame ridiculously low expectations? Why should this quarter be any different?

BKS’ chart shows a mixed bag. Yes, the 50-day moving average overhead is daunting. But the 20-day and 100-days are lending support. And peak put open interest at the $15 strike should give a foundation as well. Earnings could be just what BKS needs to finally break above the 50-day.

We’ll admit that it may not be comfortable to bet on BKS. It’s certainly facing severe headwinds. But it doesn’t need much to surprise investors. And that’s enough to make it an intriguing call play. 

Go with the BKS Dec 15 Calls, but try to get in for less than ask, as the 20-cent spread is a bit wide.