Marathon Oil (MRO) is up 69 cents to $31.70 and options volume is running 3X the normal levels. 18K calls and 2,100 puts traded. Some of the activity is due to one trade, where an investor sold 4,900 July 32 calls for $1.575 and also bought 7,200 July 34 calls for $1.05. The trade possibly closes out a position in 32 calls while opening a similar long position in the 34s. No news on the stock today. Crude oil is up $1.06 to $66.14. MRO implied volatility is down o 41, from about 42.5 late yesterday.