*Scanning all single-stocks subject to 2500 contracts minimum call or put volume

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.

USEC shares touched new 52-week lows of $2.97, but then finished up a penny to $3.09 yesterday. Options action in the Bethesda, MA uranium company was noteworthy, as 19,000 calls and 715 puts traded in USU. The top trade was an Oct 4 – 5 call spread sold at 11 cents, 6300X. Open interest data indicate a new position and so probably a bet that shares won’t rally beyond $4 through the October expiration. Shares are up 9 cents to $3.18 Tuesaday morning.

Lorillard (LO) hit a morning low of $108.99 on news a Supreme Court ruled against tobacco companies in an appeal in Louisiana. However, shares have battled back and are now down 17 cents to $110.32. Meanwhile, 35,000 puts and 14,000 calls traded in Lorillard today. Sep 90 puts, which are 18.4 percent OTM, are the most actives. 5,865 traded. A lot of action is also in front-month Jul 100, 105, and 110 puts and might be seeing some unwinding trades, as implied volatility is down 35 percent to 32 now that the event risk has passed.

*Scanning all single-stocks subject to 2500 contracts minimum call or put volume

*Scanning all single-stocks subject to 2500 contracts minimum call or put volume

Pulte Group (PHM) adds 12 cents to $7.64 and recent trades in the home builder include a 9765-contract block of Jul 7 puts on the 9-cent bid. It might be a closing trade. Open interest is 64,760 and the largest position in the name. 10,500 now traded. Shares have been trending higher in the past two weeks and are up 10.2 percent since Jun 10. Consequenty, the Jul 7 put is 8.4 percent OTM and, since next Monday is a holiday, has only 14 trading days of life remaining (including today).