options very active with the stock down 15% on deal concern. Interesting to note that yesterday we saw the options trade double normal volume, led by activity in April Puts and IV at the Apr 32.5 strike lifting from the 130% to 140% range. Today’s activity is triple normal levels and dominated by April OTM call trading. Notably the upside implied volatility is higher than downside in april options, suggesting that traders do not share the view that the deal is at risk.