Cemex (CX) loses 2 pennies to $9.50 and options volume is 3X the average daily, driven by a Jan $9 – $10 strangle, sold at $1.80, 6200X on PHLX. Looks like an opening position and a bet that shares of the Mexican cement company will hold in a range through the rest of 2010. Implied volatility in CX is flat today at 42, compared to a 52-week high and low of 70 and 35.