Upside Purchased on United Rentals (URI)

Shares of United Rentals Inc. URI are higher on the session by 7.78%, currently trading at $10.25. The stock has been trading largely lower over the past four months, though has been finding support around the $8.50 level. Options traders are buying calls on the name today, betting that the stock can run higher. The August $12.50 call was purchased 1,300 times, on the offer, earlier in the session; open interest on the strike is only 23 contracts. This signals new, bullish positioning on the name. Call volume is now running at 12.02x the daily average. United Rentals, Inc. is an equipment rental company and its network consists of 569 rental locations in the United States, Canada and Mexico.