Apple Computer (AAPL) Weekly puts and calls are seeing heavy trading amid optimism for the company’s Worldwide Developer’s conference. Although it is scheduled for Jun 6 – 10 and after the Weekly 6/3 contracts expire, trading is active on speculation about potential product announcements at the event. The list includes a Lion operating system, an advanced mobile OS for iPad, iPhone and iTouch, as well as the company’s upcoming cloud services offering. The WSJ is also reporting this morning that Steve Jobs will be present, even though he is on a medical leave of absence. Shares are up $7.82 to $345.23 and weekly at-the-money 345 calls are the most actives. 26,818 have changed hands. The OTM 350 calls are active. At the same time, Weekly 340 puts have traded 16,100 contracts and the action also included some spread purchases (buying 340s and selling 345s). Implied volatility is up 5 percent to 20 and options action in Apple is likely to remain brisk this week heading into the event.