Level Three (LVLT, news, chart, volatility) is up 28 cents to $1.60 and options volume is running at 6 times the average levels. Jan-10 calls at the $2.5 strike are the most actives. 4,100 traded, with 75 percent trading offerside. Some call buying is being seen. Call writing is also being seen in the Jan10 2.5s and March 2.5s. Some players might be writing calls against shares, as a significant number of blocks of LVLT shares also traded.