SunTrust (STI) is up $1.33 to $22.79 and 16K calls traded, compared to 2,900 puts. Today’s call volume represents 7X the expected for midday and is focused on Aug calls with strike prices ranging from 21 – 23. 7,600 Aug 23 calls traded, compared to open interest of 277. ISEE data suggest 83 percent of the calls traded on the ISE today, or 6,640 contracts, bought-to-open this morning (However, data might be a little distorted due to expiration). Nevertheless, it looks like short-term speculators looking for the stock to run higher this afternoon. August options come off the board today. Implied volatility (average) is down to 56.5, from about 59 late yesterday.