Verizon (VZ) is down $1 to $36.57 and one of 24 Dow stocks in negative territory through the first hour of trading Friday. Verizon reported a quarterly profit of 57 cents per share on $27.54 billion in revenues. The Street was expecting 55 cents on $27.43 billion. The whisper number might have been higher because shares were up 2.3 percent in the three days leading up to the report, but have given back those gains and a bit more today. Meanwhile, the top options trades in VZ today are part of a spread, after an investor bought 4,500 VZ Jan 31 puts at 64 cents and sold 4,500 Jan 30 puts at 49 cents. 15 cents was paid for the Jan 30 – 31 put spread and this might be a roll or exit, as open interest is sufficient to cover in both contracts. On the other hand, it might be an opening play targeting a move to $30 (-18 percent) or less through the Jan expiration.