Verizon (VZ) is down 22 cents to $28.80 and one of 28 Dow stocks trading lower late Friday (MSFT and HPQ holding gains). Meanwhile, VZ options are busy, as players jockey for position ahead of earnings Monday, before the open. 40K calls and 31K puts traded. Most of the activity is in the front month. The Nov 29 straddle is busy, as are Nov 27 puts and 30 calls. Implied volatility (average) is up 2.7 to 22, from a 52-week low of 19.3 set yesterday. Meanwhile, the 30day statisical volatility of Verizon shares is 15.6 and at 52-week lows.