Hot Topic on Fire (HOTT)

Shares of Hot Topic Inc. HOTT are higher on the session by 4.46%, currently trading at $5.62. The stock has been rallying strongly over the past week, gaining more than 12%. A break above $5.69 would signal a further breakout. Options traders are buying calls on the name today. The February 2011 $5.00 call was purchased 1,237 times, on the offer, for $1.10 a short while ago; open interest on the strike is only 106 contracts. This signals new positioning at the strike. Call volume is now running at 12.21x the daily average. Hot Topic, Inc. is a mall and Web-based specialty retailer operating the Hot Topic and Torrid concepts, as well as the e-space music concept, ShockHound. It sells a selection of music/pop culture-licensed and music/pop culture-influenced apparel, accessories, music and gift items for young men and women principally between the ages of 12 and 22.