Calls Purchased on Urban Outfitters Inc. (URBN)

Shares of Urban Outfitters Inc. URBN are higher on the session by 0.62%, currently trading at $32.41. The stock has been trading largely lower over the past four months, off from recent highs near $40.75. Options traders are betting that the stock can rally from here and are buying calls. The September $33 call was purchased 3,000 times, on the offer, earlier in the session; open interest on the name is only 463 contracts, which signals new positioning. Call volume is now running at 4.59x the daily average. Urban Outfitters, Inc. is a lifestyle specialty retail company that operates under the Urban Outfitters, Anthropologie, Free People and Terrain brands. The company also operates a wholesale segment under the Free People and Leifsdottir brands.