MEMC (WFR) loses 17 cents to $6.56 and implied volatility in the silicon wafer maker is higher on increasing interest in Nov 7 calls on the stock. 6,259 traded (59 percent Ask) against 4,830 in open interest. The top trade is a 571-lot at the 35-cent asking price. Data suggest a closing trade. Still, implied vols in WFR are up 14 percent to 74 today and the increasing interest in upside calls on the stock comes ahead of a Nov 2 (after market) earnings report.

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

After falling to its lowest levels since August 4 yesterday, CBOE Volatility Index (.VIX) adds .21 to 25.67 on a relatively quiet morning of trading after a 42.5-point surge in the S&P the day before. Early trades in the VIX pit Friday include a 15000-contract block of Nov 25 puts sold at $1.425. 51,372 traded. Nov 25 puts were the most actives in VIX yesterday as well. 90,000 changed hands. Some investors might be liquidating positions after a 43.8 percent drop in the “fear gauge” since Oct 3. VIX Nov 25 puts have 210,135 in open interest, which is the largest position in the index today. The contract expires in 18 days.

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