Qualcomm (QCOM) is down 60 cents to $34.82 and recent trades include July 34 – 36 call spreads, which traded at $1.06, 1605X, and at $1.05, 1058X, on ISE. More than 4000 traded and ISE data indicate that half are opening buyers. It seems to be either rolling down in strikes or bullish vertical spreads. Implied volatility in QCOM is up about 6 percent to 33.5. A number of tech names, RIMM, PALM, and ORCL, are due to report earnings after the closing bell today.