Shares of Office Depot Inc. ODP are higher on the session by 3.90%, currently trading $5.33. The stock has been falling sharply lower over the past six weeks, off from a recent high of $9.19.
Calls are being purchased on the name today. The July $5.00 call was purchased nearly 2,900 times earlier in the session; open interest on the strike is only 137 contracts, signaling new, bullish positioning.
Call volume is running at 2.56x the daily average.
Office Depot, Inc. is a global supplier of office products and services. The Company operates in three business segments: North American Retail Division, North American Business Solutions Division and International Division.
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