Stocks trade in narrow range, finished modestly higher. Read More.

29K calls traded on Sequenom (SQNM) Monday, compared to 6,200 puts. Shares are up 77 cents to $6.35 and August 4, 5, 6, and 7 calls are seeing active trading. Seems like a mix of buying and selling, perhaps some rolling up in strike prices. Implied volatility is up to 134 (+3) ahead of earnings (expected around July 29, but date not yet posted).

*Scanning all single-stocks subject to 2500 contracts minimum call or put volume

Hartford (HIG) continues to move higher ahead of its July 29 earnings report adding another 5.5%to $15.85 today and up some 30% in the past week. Option volume is 3x daily average in across the board repositioning. In the front month August $13 calls have traded 5,000 contracts between 2.90-3.20 with 75% of volume at the bid in what looks like rolling up from the open interest that built last week to 9,900 when stock was around $12 and calls were trading 60-70c. Fresh positions are being open in the August $16,17 and $18 which have volume exceeding prior open interest in two way trading. On the put side fresh buying in the August $14p and the Jan. $7.50/10 was spread 5,000 x in what looks like a roll up.

*Scanning all single-stocks subject to 2500 contracts minimum call or put volume

Hawaiian Holdings (HA) shares are up 4% to $6.95 ahead of the airline’s earnings report after today’s close and option volume is running 6x the daily average with four leg call spread accounting for all the volume in what looks like a general roll up. The transaction saw the August $5/$7.5 spread trade 1,200 times accompanied by the purchase of 1,200 of the October $7.50 in opening transactions. The October $5 calls have traded 3,800 contracts at the bid of $2.20 in what appears to be a closing of a purchase made June 19 when the stock was $5.30 and the calls were trading around $1.25 a contract.

Mylan Labs (MYL) is down $1.41 and put options are active after the Pittsburg Post-Gazette reported that employees routinely overrode computer-generated warnings about possible problems with medications Mylan was producing. The article cites a confidential internal report obtained by the Pittsburg Post-Gazette. Shares are down and players are bracing for additional downside with MYL Oct 10, Jan2010 10 and Jan2010 7.5 puts. Implied volatility is up to 43, from about 41.5 late Friday.

Stock index futures point to a flat open Monday, as investors react to mixed earnings news and await a report on new home sales. Thirty minutes before the opening bell on Wall Street, stock index futures indicate that both the Dow Jones Industrial Average and the NASDAQ will open the session little changed.

A busy week of earnings news started on a mixed note. Dow component Verizon (VZ) shares rose 1 percent after the company reported quarterly earnings of 63 cents per share, which was in-line with analyst estimates.

However, Aetna (AET) is under pressure after the insurance company reported a 68-cent per share profit for the most recent quarter, which was 10 cents below analyst estimates. AET also guided estimates lower for the fiscal year. Shares are off 10 percent.

Amgen (AMGN) might see action ahead of earnings, after the closing bell today.

Some of the commodity-related names might see early strength after crude oil gained 45 cents to $68.50 a barrel and gold added $4.2 to $957.30 an ounce.

Meanwhile, bonds are under pressure ahead of new home sales data, due out at 10:00 a.m. eastern time. Economists expect the report to show modest improvement, to an annual rate of 352K homes in June, up from 342K the month before.

The benchmark ten-year Treasury is down 21/32nd and yields 3.74 percent.

The dollar gained .41 to 95.16 on the yen. The euro moved up .0046 to 1.4263 on the buck.