F5 Networks (FFIV, news, chart, volatility) is seeing heavy trading. Shares are up $1.38 to $25.53 and volume in the options market is running three times the usual. 7,500 calls have traded, roughly three times the number of puts, with active buying seen in the November 22.5 calls and Novmeber 22.5 puts. The November 20 puts are the most actives, with 5,000 traded mid-market and tied to a block of FFIV shares. Outside of that, the volume has come in blocks of 700 contracts or less and seems to include a lot of buying, probably in reaction to comments at the company’s F5 Networks Analyst/Investor meeting taking place today between 11:00 and 15:00 ET.