Overstock.com (OSTK, news, chart, volatility) puts are active ahead of earnings. The stock is down 59 cents to $10.95 and volume in the options market is running five times the average daily. 3,000 puts and 381 calls have traded. The January 10 puts are the most active, with 2,500 traded. The top trade of the day is an order for 287 contracts traded bidside for $2.65 a contract. Outside of that, the activity has been mostly in smaller size, with a little more than half the day’s volume trading on the offer. Therefore, while OSTK options volume is much higher than typical levels and puts are dominating the action, sentiment seems mixed. Implied volatility is up to 140, compared to about 115 the day before. Earnings due out Thursday before the opening bell.