Supervalue shares are up 30c to $14.20 and option volume is 6x the daily averge. Notable trade risk/reversal in which the April $12.50 puts were sold 3,000 times at 70c and the April $15 calls were purchases 2,400 times at 90c a contract. Shares of the grocery retailer have declined 17% in the past three weeks and had a gap lower opening yesterday which has yet to be filled despite this morning’s gains. The company is scheduled to hold a conference call tomorrow at 2:00 PM, earnings are not slated until second week of January