Calls Purchased on Advance Auto Parts

Shares of Advance Auto Parts (NYSE: AAP) are higher on the session by 1.87%, currently trading at $56.20. The stock has been moving largely lower over the past three months and is currently trading below the 50-day moving average.

Options traders are buying calls on the name today. A short while ago the March 2012 $55.00 call traded 1,000 times on open interest of 170 contracts. Overall call volume is now running at 2.22x the daily average with 89% of all calls traded being purchases on the offer.

Advance Auto Parts, Inc. is a specialty retailer of automotive aftermarket parts, accessories, batteries and maintenance items primarily operating within the United States.