Calls Purchased on Pier 1 Imports (PIR)

Shares of Pier 1 Imports Inc. PIR are lower on the session by 1.78%, currently trading at $7.16. The stock has been consolidating between $7.00-8.00 after rallying for the past six months. The stock recently broke down through the 50-day moving average, though. Options traders are betting that the stock can regain its recent highs. The July $7.50 call was purchased 1,470 times, on or near the offer, on open interest of 982 contracts. Call volume is now running at 4.23x the daily average. Pier 1 Imports, Inc. conducts business as one operating segment consisting of the retail sale of decorative home furnishings, gifts and related items. The specialty retail operations of the Company consist of retail stores operating under the name Pier 1 Imports, which sell a variety of furniture, decorative home furnishings, dining and kitchen goods, bath and bedding accessories, candles, gifts and other specialty items for the home.