Williams (WMB, news, chart, volatility) has seen a burst in trading activity in recent trade. The stock is up $1.39 to $19.47 and outperforming in the natural gas sector. The AMEX Natural Gas Index is up 10.97 to 420.54. WMB rallied early and extended its gains in recent trade, up 50 cents in the past 30 minutes or so. The most recent run higher was accompanied by a jump in activity in WMB options, including a series of larger orders for January 17.5 and 22.5 calls traded on the offer as well as flurry of activity in the January 22.5, 20, and 17.5 puts as well, also trading on the offer.