Cameco (CCJ, news, chart, volatility) is seeing unusual action. Shares are up $1.75 to $19 and total options volume is running four times the average daily levels. 6,500 calls 1,750 puts traded. Jan 20, Jan 22.5, and Feb 20 calls are the most actives. Looks like speculative call buying, as directional sentiment based on today’s flow is 81 percent bullish.