UST (UST, news, chart, volatility) is up 28 cents to $68.95 and volume in the options market is running 21 times the usual on heavy selling of January 65 puts. Several large blocks traded for 45 cents a contract this afternoon and, with Altria (MO) expected to close the deal on its acquisition of UST within the next two months at $69.50 per share, some writers might be taking in the premium on the view the deal is very likely to go through. The acquisition passed US regulatory review on October 16. Moreover, “UST Inc. said Thursday (December 4) its shareholders approved the acquisition of the smokeless tobacco company by Altria Group Inc. for $10.4 billion,” according to the Associated Press.