Economic data, G20, and end-of-quarter window dressing to guide trading in the week ahead. Read More.

Stocks fall, volume slows, ahead of the weekend. Read More.

US Natural Gas Fund (UNG) is down $1.03 to $15.20 and hit record lows Friday. The fund fell after natural gas (May) closed down 7.2 percent to $3.74. UNG is down 7.9 percent month-do-date and on track to suffer its 9th consecutive monthly loss. Sentiment in the options market seems to reflect hopes for a rebound, however, after 8,677 April 16 calls traded and two thirds of the volume hit ask-side. Looks like some buyers are opening new positions on hopes UNG might heat up before the April options expiration (3 weeks).

Las Vegas Sands (LVS) hit a low of $2.84 in morning trading, but has since battled back to unchanged at $3.12 per share. The stock saw a spike about 40 min. ago on news MGM (MGM) has secured funds needed to ensure construction on a CityCenter project. LVS shares reacted positively and increasing interest is being seen in LVS April and May $5 call options on the news. More than 7000 contracts now traded.

Virgin Media (VMED) is down 23 cents to $4.95 and options volume is running at 5X the average daily levels. The top trade of the day is 2000 May 5 calls at the offer for 62 cents on the ISE, which is an opening customer call buy, according to ISEE sentiment data. 3000 calls traded total, compared to 100 puts.

General Motors (GM) is up 19 cents to $3.60, but 14 percent below its best levels of the session ($4.19). Shares saw a spike lower about 20 min ago on a CNBC report that the automaker will offer its union $10 bln in preferred stock at 9 percent. The story is still developing. GM implied vols are back up to 205, from about 192 Thursday. May and June puts at the $2 strike are the day’s most actives.

CarMax (KMX) is down 37 cents to $13.12 and May 12.5 puts are active, after a player sold 5000 contracts for $1.15. Looks like a new position, as existing open interest is 351. The interest comes ahead of an April 2 (before market) earnings release. UBS raised its price target and estimates on March 23, saying TALF program could help drive used car sales.

Colonial BancGroup shares are near 90cents today, but a buyer just paid 15cents for several hundred May 2.5 calls, making a total of 500 on the day. Buyer also paying 15cents for June 2.5 calls in a possible view that shares might regain levels seen in late 2008.

Accenture (ACN) is down $4.26 and options volume is running 8X the expected for midday trading, with 7000 calls and 5,800 puts traded. Premium selling is being seen after the company posted better than expected second quarter results, but lowered its third quarter and full year outlook. Stifel downgraded the stock to Hold. However, UBS says weakness might offer an intriguing buying opportunity. Some investors might agree, as April 30 calls are the most actives about half the volume is trading ask-side.

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