MBIA sees a spike in heavy volume and options action is heating up as well. Shares jumped 10 – 15 minutes ago and, after hitting a high of $9.19, are now up 17 cents to $8.81. Upside call buyers are showing interest in NOv 10 and $11s. Implied volatility in the options on the stock is up 23.5 to 99. It’s not clear what the catalyst is, but there seems to be a news item out there.