State Street (STT, news, chart, volatility) shares are up $1.04 to $42.14, but directional sentiment in the options market seems bearish, amid increasing activity in January and February 40 puts. Recent trades include 2,219 Feb 40 puts at the offer for $4.00 a contract. More than 5,300 has traded. Similar action is being seen in the Jan 40s. No news out today. Earnings due out mid-Jan, perhaps before next week’s expiration.