Level 3 (LVLT, news, chart, volatility) options are seeing double normal trading volume on increasing put buying. Shares of the Broomfield, Colorado communications company are unchanged at $2.70 on the day. Meanwhile, 6,500 puts and just 185 calls hvae traded. The November 2.5s are the most actives, with 5,600 traded and 94 percent of that volume trading offerside. December and January 2.5 puts are also being bought. Consequently, directional sentiment based on todays options order flow in LVLT is 84 percent bearish. No news on LVLT today. Earnings due out October 23.