The top options trades so far today are Citi (C) Dec 4 straddles at $1.36, traded on the bid, 30000X on PHLX. It might close an existing position or possibly a bet that Citi will stay within a range around these levels between now and the December expiration. Citi is up 15 cents to $3.91. Implied volatility has fallen about 9.5 percent to 57, down from a multi-month high of 70 last Thursday.