Abercrombie (ANF) Mar 22.5 straddle open interest increased by more than 9K (19K total). Looks like a seller collected $3.35, 9500X, with shares near $22.4 midday yesterday.

Stocks set to open higher following some better news from the banking world. Read More.

Accused of looting client funds to buy horses, cars, and $80,000 teddy bears

Ensco (ESV) is down 17 cents to $24.77 and March 25 calls are active ahead of earnings due out tomorrow (before market). 3,321 contracts traded and 99 percent traded ask-side. With existing open interest of 1,002, looks like bullish traders taking postions in the oil service company ahead of the news.

MGM Mirage (MGM) puts are active. Shares are down 41 cents to $4.04 and hit their lowest levels since 1992 today. Looks like put sellers are dominating the action, collecting 15 cents on the Mar 2.5 puts and opening new positions ahead of earnings, which are expected some time before the March options expiration. We spoke w MGM Investor Relations and NO date is confirmed. Last report was on October 29.

Call activity in Mobile Mini ahead of tomorrow morning’s earnings is notably bullish, as shares trade just above $10, after setting a 52w low of $9.63 Tuesday. Buyers are paying 95cents for March 10 calls, with a total of 1769 on the tape, continuing action from Tues when 2050 traded from 75 to 80 cents to create new open interest.

Lorillard option volume is nearly 10x normal levels, led by the April 55-60 put spread, bought earlier today for 1.90 vs stock at 61.15 5000x. Opens a new position.

Philadelphia-based managed care company Cigna (CI) order flow is bearish. Shares are down $1.32 to $17.48 and almost 10K Mar 12.5 and 1,865 Mar 15 puts have traded. Recent trades include 7000 Mar 12.5 puts, bought for 25 cents.

Industrials ETF saw a bearish block of volume this morning as a customer bought 2000 June 12.5 Puts and Sold 2000 June 23 Calls for a net debit of 15cents. Risk reveral (aka protective collar) opens on both legs and hedges $3.5million of notional value in the sector. GE is the top holding in the XLI, and both GE and XLI are not far above the 52w lows they set yesterday.

First Solar (FSLR) is down $29.42 to $108.22 and falling to new session lows after reporting better than expected fourth quarter earnings, but guiding 09 estimates lower and making bearish comments about near term financing conditions in end markets. Stock was whacked with multiple downgrades (thinkequity, Kaufmann, Jeffries). In the options market, trading is active, with April 80 puts topping the most actives. Looks like buyers dominating the action.