BP is up $1.06 to $28.73 and noteworthy action is being seen in the August 30 – 35 call spread and August 20 puts. One player bought the puts and sold the call spread, collecting 67 cents on the three way, 5000X. The spread has traded more than 22000X and it likely closes positions opened Friday, when the spread saw similar volume. For example, on Friday, one player paid 17 cents for the three-way, 5000X. Shares are up 6.3 percent on the week and, as a result, this strategist appears to be collecting a respectable profit on the trade. Implied volatility has eased another 5 percent to 75 today.