Followup on EMC upside call action Friday. A total of nearly 36,000 Nov 13 calls traded on the day, with implied vols lifting 22 points to 77.5%. The stock closed up 32cents to 11.78 and earlier this year was mentioned in Cisco for EMC deal chatter. Most of the call buying took place at midday in large blocks for 23 to 30cents. A more bearish view was put on near the end of the day when a call seller unloaded 8500 Jan-09 14 calls for 62cents on the Amex, possibly taking advantage of the speculative spike in premiums and share price.

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