Spreadtrum Communications (SPRD) is down 25.6 percent to $9.64 and a big mover today. Volatility in shares of the Shanghai, broadline semiconductor company is being attributed to a negative report from Muddy Waters Research. SPRD options are seeing heavy trading as well. 12,000 calls and 36,000 puts so far. July puts with strike prices ranging from 5 to 17 are seeing heavy trading. Shares had already trended lower before today and had suffered a 43.2 percent decline during the past month. Meanwhile, Muddy Waters is becoming well known for its critical commentary on China-based firms. SPRD, which makes processors for wireless handsets, is apparently the firm’s latest target.