TIVO is notching new session highs amid active trading in call options on the stock and higher implied volatility today. Shares are up 78 cents to $10.77 and 15,000 calls/3,535 puts traded on the stock, which is 4.5X the daily average for the name. Nov $11 calls, which are 2.1 percent out-of-the-money and expiring in 22 days, are the most actives. 3,930 traded. Nov 10, Nov 12, and Jan $11 calls are busy as well. Meanwhile, implied volatility in TIVO options is bucking the market trend today and is up 11 percent to 53. No company news on the ticker today. Earnings expected around Nov 22 (unconfirmed).

Citrix Systems (CTXS) surges $10.95 to $75.17 and options volume is running 4X the daily average on earnings news. 16,000 calls and 4,475 puts traded on the Florida-based virtualization software maker. The top trades: Nov 65 – 75 call spreads, apparently sold at $7.20, 1640X. The spread has traded multiple times and might exit positions in Nov 65 calls opened on 10/18 when 4875 traded at the $4.10 asking price (apparently rolling out of Nov 60s). The contract is being sold today at $11.07 and new positions in Nov 75s opened at $3.87.

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

EMC adds $1.10 to $24.89 and a Jan13 – Jan14 20 put spread trades on the stock at 80 cents, 28500X. Hearing the spread was bought and possibly rolls a position in Jan13 20 calls opened on 5/10 when open interest in the contract increased by 25530. Shares are down 9.4 percent since then and today’s spread trader might be buying another 12 months for the bearish trade to play out.

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

Deutsche Bank (DB) surges $5.74 to $45.84 and a Nov 25 – 35 put spread is sold on the German bank at 22.5 cents, 15000X. It’s probably a liquidating trade on diminishing fears about the EU debt crisis. Looks like the spread was bought-to-open for $3.40, 14000X, on Sep 30. The underlying is up 32.6 percent since that time. Ouch.