Bulls Bet on American Eagle Outfitters

American Eagle Outfitters is drawing upside option activity ahead of its earnings report Wednesday morning.

More than 3,000 December 20 calls have traded in a strong buying pattern today for an average price of $0.60, according to optionMONSTER’s Heat Seeker tracking system. The volume was more than triple the strike’s open interest of 814 contracts at the start of the day, indicating new activity.

AEO is down 1.52 percent to $19.38. The apparel retailer has fallen from 52-week highs near $24 in September but has been rebounding since hitting a recent low of $18.31 on Nov. 16.

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