BP shares are up $3.17 to $32.37 and have retraced 57.8 percent of the losses triggered by bankruptcy fears the day before. The plunge in shares Wednesday came on the heels of a Fortune story that included commentary from oil industry insider Matt Simmons. When asked about BP’s future, Simmons said “They have about a month before they declare Chapter 11.” BP, however, said today that they see no reason for yesterday’s stock price slide, but admitted the spill is costing them $1.43 billion. Meanwhile, options trading remains brisk, with 66K calls and 84K puts traded so far, or 8X typical volume for first 45 min. Implied volatility, which reached an extreme of 117 yesterday, is back down to 91; but still above the 67 levels seen prior to Wednesday’s volatile session.