Bearish activity seen in Anadarko Pete (APC), as shares display relative weakness. APC is off $1.58 to $68.62, falling to session lows on increasing volume. About 4,000 puts traded, or 2X recent average daily. May 70s are most actives. 2265 traded (79% Ask). Another 1085 May 65s (96% Ask). No headlines to explain the bearish action.