Market Vectors Rare Earth Strategic Metals ETF (REMX), which has as its top holdings Lynas Corp., Iluka Resources, and Thompson Creek, touched a new 52-week high today and is up 74 cents to $24.60. Shares have now rallied 15 percent since news Tuesday that China cut quotas on rare earth materials. The move rekindled investor interest in the rare earth names and REMX is rallying. Meanwhile, today’s options volume in the ETF includes 3,920 calls and 450 puts, or 13X the average daily. A lot of the activity is in the January calls with strikes ranging from 22 to 26. April 22 calls are the most actives. 1,164 traded. Implied volatility is up 7 percent to 45.5 and has increased by about 36 percent on the week.