Applied Materials (AMAT) is bucking the bearish trend. Shares are up 3 cents to $11.16 and moving to session highs. Options volume is running 4X (428 percent) the usual, with 4,800 calls and 3,365 puts traded. No headlines yet, but it seems that sentiment in the options market is somewhat bullish, as ISEE sentiment data shows 70 percent (or 1,300 contracts) opening customer call buys today. Implied volatility is up to 43, from about 41.5 the day before.