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.

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

Sohu.com (SOHU) saw a midday spike on heavy volume and was recently up $1 to $69.74. Call activity is picking up as well, with 2,915 contracts traded — 4X the normal activity and almost 3X the number of puts. Implied vols moving up to 48, from about 45 late yesterday; ahead of an Oct 26 (before market) earnings report. [Note: This update was first posted at 12:33 in WhatsTrading.com Premium -- a real-time options news and information service designed for active options traders. Click the link to learn more and to start a Free Trial. Free trial offer ends soon.]

Nokia January $12/$14 strangle trades 5,200 times for $1.15 in appears an opening purchase. The stock was pummeled after last week’s earnings but now sits at support near $13 a share. Recent lawsuit against Apple might contribute to upcoming news event driven volatility. IV around 31% is near 52-week low

Acorda (ACOR) options were among the most active Thursday, with 14,407 calls and 10,095 puts trading. Around 28% of calls traded offer side with 53% bid side, and 31% of puts traded offer side and 35% bid side. Net premiums on the day was -$404,000 so you can see the favor of volatility sellers as the 30 day implied fell 32.8% to 47. The largest trade of the day was a purchase of the December $22.50/$25 strangle for 1,275 contracts at a cost of $2.40 (open interest suggest a new trade was opened.) January $25 calls traded more than 5,500 contracts with sellers accounting for most of the action. The reason for the volatility selling was the FDA’s decision to extend the review date of its key MS Drug by 3 months, and obviously one trader feels an early decision could come in December.

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

Mohawk Industries shares are up 50c to $48.10 saw a 3,000 lot of the November $45 puts trade at $1.45 a contract in opening sale. 1000 Nov $50 calls traded at the offer for $1.70 at the same time. Both traded on PHLX. Company reports earnings Oct. 29 (after market).

Amazon.com Nov 115 calls and Nov 100 puts are among the most actives early Friday. Shares are up $18 to $111.45 in heavy trading after the online retailer said it earned 45 cents per share for the quarter, which beat Street estimates by 12 cents. Third quarter revenues also beat expectations and AMZN guided fourth quarter sales numbers higher.