SuperValu (SVU) is up 70 cents to $9.22 after ther grocery chain reported a 35-cent per share quarerly profit, which was two pennies better than Street estimates. In SVU options action, a block of 20,000 Aug 9 puts trades on the 35-cent bid. The trade might offset a position opened Thursday whan two blocks of 10,000 each traded at the 45 and 50-cent asking price. The original trades were tied to 380K shares at $9.33 and $9.35 (so, 20000 Aug 9 puts at 47.5 cents tied to 760K shares at $9.40).