Petrohawk (HK), which was the subject of a bullish three-way trade yesterday (see 8/20 color), is off 59 cents to $15.27 and some players seem to be seizing the weakness in shares of the Houston, TX oil and gas driller to enter bullish trades. Options volume is running 2X the average daily, driven by call buyers in Sep and Dec. The Sep 17.5 calls are the most actives, with 5380 traded and 77 percent trading at the Ask. Similar action is being seen in Sep 15, 16, and 19 calls. Implied volatility is up 11 percent to 50. No news on the sgtock. Earnings were reported 8/9.