Oracle (ORCL) shares fell late Thursday and are down 26 cents to $23.44 this morning on news the company is being sued by the Department of Justice for alleged software contract fraud. The news triggered a flurry of activity in Oracle’s August 23 adn 24 puts late yesterday. The 23s traded 14,789X (78 percent Ask) and open interest increased by 9,349. The 24s traded 13,800X and created 10,741 in new open interest. In all, open interest in Oracle puts increased by 24K yesterday (vs. +267 calls) and implied volatility jumped to 31.5 from 25.