Looks like speculative call buying has returned to Sirius Satellite (SIRI). Shares are up a dime to $1.57 and 35,000 contracts traded, which is 4X the expected for midday and compares to put volume of 7,700 contracts. Jan 1.5 calls are the most actives. 13,290 traded (71 percent ask). Mar 1.5. June 1.5, and Jan 2 calls are seeing interest as well. The Mar 1.5 is the most actively traded put. Implied volatility is up 17.5 to 47.5. Shares are in the midst of a two-day 12.8 percent rally, helped today by news Sirius XM Radio will be standard equipment on new BMW motorcycles.