Some less actively traded names seeing bullish order flow: Bare Escentuals (BARE), Bon-Ton Stores (BONT), Lexmark (LXK). Bearish order flow: Smith and Wesson (SWHC), Calpine (CPN), Market Vectors Russia Fund (RSX). Post Earnings Activity: Kroger (KR), Talbot’s (TLB), Autozone (AZO), Gigamedia (GIGM). Pre-Earnings Activity: Comtech (CMTL), AeroVironment (AVAV), Cooper Companies (COO). Ex-Div Activity: CBS, Gannett (GCI), Agrium (AGU), HRB (also post earnings).

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

YRC Worldwide (YRCW) is down 12 cents to $1.02 on news Delta (DAL) will replace YRCW in the Dow Jones Transportation Average. Yesterday, however, YRCW saw a morning spike to $1.28 amid talk of forced buy-ins in the top three names on the Regulation SHO Short List. Since YRCW is on that list, forced buy-ins would require shares to be bought-in at T+3. While the morning spike was short-lived, and YRCW finished with losses Monday, the order flow Tuesday seems to reflect expectations for a recovery over the next few months. Although probably not related to the Reg SHO speculation, 13.5K April 1 calls traded today and ISEE data indicates that 3,031 calls (or 74 percent of the volume on ISE) are opening customer buyers.

Bucrys (BUCY), a Milwaukee farm and construction machinery company, is off 86 cents to $50.49 and a block of 13K Jan11 puts at the 25 line traded bid-side for $2.25. This is possibliy a closing seller, as open interest in the contract, which is more than 50 percent out-of-the-money, is 36,728 and by far the largest of any BUCY contract.

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

Apple Computer (AAPL) is seeing relative strength and options are actively traded Tuesday morning. While the tech-heavy NASDAQ is down 4.4 points, AAPL shares are up $3.15 to $192.10 and not far from session highs ($192.35). In the options market, some call buyers surfaced amid unsubstantiated talk that a “Tier 1″ firm has positive things to say about Apple. The chatter started making the rounds at about 10:15 and, just then, the top trade of the day hit the tape. It was a block of 3650 Dec 220 calls at 15 cents on ISE, which was an opening customer buyer, according to ISEE data. Dec 190 and 200 calls are now the most actives, with 13,100 and 15,200 traded respectively — mix of buyers and sellers active in both contracts. Implied volatility (average) in Apple is 36.9, from about 38 late yesterday, but significantly above the 52-week lows of 28 set in late October.

Mosiac shares are up a nickel to $60 notable trade in the Dec $60 and Jan. $65 calls which each traded 10,000 contracts. Looks like purchase Dec. and sale of the Jan. as part of a roll up and out of an overwrite. Note, the Dec. $60 calls did not have the standard 100 share multiplier, likely the result of adjustment, but based on price probably represent around 130 shares.

US Airways (LCC) is down 10 cents to $4.55 this morning and, yesterday, trading in the airline was brisk, with 14K puts and 8,120 calls crossing the tape. January 2010 puts at the 2.5 line were the most actives 10,494 traded and with only 2 percent hitting bid-side (48 percent mid/50 percent ask-side), it appears that put buyers were dominating the action. Plus, open interest increased by 10,323, resulting in 54,507 of total open interest and by far the largest of any LCC contract.