Schlumberger (SLB) is off $1.09 to $58.26 after being downgraded to Outperform from Strong Buy at Raymond James and to Neutral from Add at Capital One Southcoast (uptraded to Hold from Sell at Argus.) Shares are down and recent trades include a Sep 50 – 57.5 put spread, apparently bought-to-open at $2.07, 2000X on AMEX. Implied volatility is up about 6 percent to 36.5. The oil driller reported earnings Friday morning.