Calls Purchased on Pier 1 Imports (PIR)

Shares of Pier 1 Imports PIR are higher on the session by 3.25%, currently trading at $10.47. 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. A short while ago the January 2011 $11.00 call was purchased 1,400 times, on the offer, on open interest of only 783 contracts. This signals new positioning on the name. Overall call volume is now running at 3.97x the daily average with 89% of all calls traded being purchases on the offer. 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.