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

Allos Therapeutics (ALTH) implied volatility is elevated ahead of am FDA advisory panel review of the company’s lymphoma drug next Wednesday. Shares are down 60 cents to $7.17 in active trading today after reviewers “raised questions about the findings from Allos Therapeutics for a proposed lymphoma drug” — Reuters (Link to article). Shares are down and trading in the options market is brisk, with some players possibly buying Sep 2.5 – 5 put spreads ahead of the decision. Implied volatility (average) is ripping higher — to 224 from about 181 late Thursday (52-week high and low = 231 and 55).

LDK Solar (LDK) is up 15 cents to $9.28 and 8,655 calls traded, or about 7X the expected for the first 90 minutes of trading. Sep 10 and 11 calls are seeing some buying interest, with a combined 4000 traded and 87 percent of the volume hitting ask-side. Impled volatility is moving up to 80.5, from about 76 yesterday. Briefing cites takeover speculation.

YRC Worldwide (YRCW) saw a spike 15 minutes ago and is up 29 cents to $2.28 per share. 3,380 Sep 2.5 calls traded — 75 percent hit ask-side. Another 1,820 Oct 2.5 calls traded — 94 percent hitting ask-side. Shares are up and investors are buying calls, probably in reaction to chatter of a union contract — Briefing.

Flowers Foods (FLO) edged up 29 cents to $23.77 and options volume jumped to 6X the normal levels Thursday. Most of the action was in the January 2010 puts at the 25 line, with 2435 contracts traded. Almost 90 percent of the volume hit ask-side and open interest increased by 2,309, suggesting investors bought to open puts on the Thomasville, GA packaging company.

Stocks are set to open higher after Intel (INTC) raised its outlook and Dell Computer (DELL) reported profits that beat Street estimates. Thirty minutes before the opening bell on Wall Street, stock index futures indicate that the Dow Jones Industrial Average might gain 50 or 60 points in early trading.

Stock index futures rallied Friday morning after Intel (INTC) raised its revenue outlook. Shares of the world’s largest chipmaker are up 3.4 percent after the company said it expects third quarter revenues of $9 billion. Analysts were expecting $8.55 billion.

Meanwhile, Dell Computer shares rose 4 percent after the second largest computer maker behind HP reported a quarterly profit of 28 cents per share, which beat Street expectations by a nickel.

On the economic front, a report showed personal spending increasing by .2 percent in July, which was in-line with economist estimates. Incomes were unchanged, compared to expectations for a .1 percent increase. The PCE index, a gauge of inflation, edged up just .1 percent.

A report on consumer sentiment is due out at 9:55 a.m. eastern time. Economists expect the University of Michigan Sentiment Index to finish August at 64, up from an initial reading of 63.2.

Bonds are lower ahead of the news. The benchmark ten-year Treasury bond is down 13/32nd and now yields 3.5 percent.

The dollar is up .38 to 93.85 against the Japanese yen. The euro gained .0025 to 1.4329 against the buck.

Crude oil added 73 cents to $73.22 a barrel and gold rallied $11 to $958.30 an ounce.

Stocks battle back from early losses. VIX little changed. Read More.

DELL spikes and rallies to session highs before 10 minutes before the close. Second largest computer maker behind HP is due to report earnings after the close. Trading is heavy, with 175K DELL options traded on the session (38 percent calls and 61 percent puts).