Calls Purchased on hhgregg Inc. (HGG)
Shares of hhgregg Inc. (NYSE: HGG) are higher on the session by 1.76%, currently trading at $20.86. The stock has been moving largely lower over the past three months, off from a recent high near $31.00.
Options traders are buying calls today, betting that the stock may have bottomed out. The August $22.50 call was purchased 875 times, on the offer, a short while ago; open interest on the strike is 146 contracts, signaling new, bullish positioning on the name.
Call volume is now running at 13.76x the daily average.
hhgregg, Inc. is a specialty retailer of consumer electronics, home appliances, mattresses and related services operating under the names hhgregg. As of March 31, 2010, the company operated 131 stores in Alabama, Florida, Georgia, Indiana, Kentucky, Mississippi, North Carolina, Ohio, South Carolina, Tennessee and Virginia.
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