Calls Purchased on Cost Plus, Inc. (CPWM)

Shares of Cost Plus, Inc. CPWM are higher on the session by 11.74%, currently trading at $8.09. The stock has been moving largely higher over the past six months and is currently trading above the 50-day and 200-day moving averages. Options traders are buying calls on the name today. Though action has been primarily in small lots, overall call volume is now running at 5.00x the daily average with 75% of all calls traded being purchases on the offer. Traders are buying the $7.50 strike in multiple months. Cost Plus, Inc. is a specialty retailer of casual home furnishings and entertaining products in the United States. As of January 30, 2010, the company operated 268 stores under the name World Market, Cost Plus World Market, Cost Plus Imports and World Market Stores in 30 states.