Tanzanian Royalty Exploration (TRX) is under fire and implied volatility in the options on the South Surrey, BC gold miner is moving sharply higher Thursday. Shares saw heavy volume and were halted. The stock resumed trading and is now down $1.38 ti $2.04. The move has left investors searching for a catalyst, as there are no headlines on the stock. Some are speculating that the volatility is related to news that Tanzanian police have banned protests. For whatever reason, TRX is taking a hit today and options volume on the stock is 25,000 puts/6050 calls. Typical volume is about 175 contracts through midday. The top trades include a spread, in which the investor apparently sold 1500 Jan 3 puts on TRX to buy 2,000 Nov 2 puts and is possibly rolling a position from Jan to Nov, down one strike. Jan 2 puts, Nov 2 calls, Nov 4 puts, Nov 3 puts and Nov 3 calls are actively traded as well. Meanwhile, implied volatility in the options on the stock surged 170 percent and is at an extreme of 285.