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.
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