Upside Purchased on Men’s Warehouse (MW)

Shares of Men’s Warehouse Inc. MW are lower on the session by 3.64%, currently trading at $18.78. The stock has been trading largely lower over the past three months, off from recent highs near $27.50. Options traders are buying calls on the name today. The August $20.00 call was purchased 1,000 times, on the offer, a short while ago. Open interest on the strike is 386 contracts. This signals new, bullish positioning on the strike. Call volume is now running at 5x the daily average. The Men's Wearhouse, Inc. is a specialty retailer of men's suits and a provider of tuxedo rental product in the United States and Canada. At January 30, 2010, the company operated 1,259 retail stores, with 1,142 stores in the United States and 117 stores in Canada.