Puts Sold on Pier 1 Imports (PIR)

Shares of Pier 1 Imports Inc. PIR are higher on the session by 0.63%, currently trading at $8.04. The stock has been on an amazing run higher since last year, when the company was trading for as little as $0.10. Options traders are selling some puts on the name today. Though action has been primarily in small lots, put volume is now running at 3.62x the daily average. Traders are focusing in on the $7.50 strike in multiple months. Pier 1 Imports, Inc. conducts business as one operating segment consisting of the retail sale of decorative home furnishings, gifts and related items. The specialty retail operations of the Company consist of retail stores operating under the name Pier 1 Imports, which sell a variety of furniture, decorative home furnishings, dining and kitchen goods, bath and bedding accessories, candles, gifts and other specialty items for the home.