Shanda Interactive Entertainment (SNDA, news, chart, volatility) options are actively traded as the stock falls along with Sina.com (discussed earlier) and other Chinese Internet/Portal companies. A subscriber notes that the group is under pressure following a Financial Times report (Baidu faces wave of legal challenges) that sent shares of Baidu, China’s largest internet search engine, skidding for a 15 percent loss Monday. In addition, SNDA reports earnings after the close today. Trading is cautious ahead of the news. Volume in the options market is running four times the usual, with 4,300 SNDA puts and 2,300 calls traded. Implied volatility is up to 93, from about 80 late Friday.