TIVO shares rally $4.40 to $14.61 and options action heats up after an appeals court rules against DISH in a contempt case. Shares rallied to 52-week highs on the news. 25K calls and 13K puts traded so far. Mar 10 puts are the most actives. March 10, 12.5, and 15 calls are busy as well. The IV crush is on — down 37 percent to about 85.

Note: We’ve highlighted two days of bullish trading in TIVO in our premium section, including bullish trading in the April 12.5 – 15 call spreads at 50 cents Tuesday. Please register for more information about WhatsTrading.com Premium.