Ship Finance (SFL) loses $1.28 to $9.65 and implied volatility in the options on the stock is elevated, amid increasing put volume today, after Moody’s downgraded the stock today. 2,060 puts and 340 calls traded in SFL. By way of comparison, typical volume through midday is 500 contracts. Jan and Feb 7.5 puts are the most actives, with 876 and 544 traded, respectively. Directional sentiment based on the overall flow is 65 percent bearish and implied volatility jumped 27 percent to 101. Ship Finance was the subject of bearish order flow last week after peer Frontline (FRO) warned that working capital was becoming an issue (see 11/22 color). SFL reported earnings on 11/23.

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

Yahoo (YHOO) adds 41 cents to $15.46 and an 11,098-contract block of Dec 18 calls trades on the Internet giant for 20 cents on BOX. The market was 18 to 20 cents at the time. 13,350 traded against 24,202 in open interest. April 18 calls are the second most actives in Yahoo, with 3,745 traded. Total volume is 37K calls/7135 puts and implied volatility in YHOO options is down 2.5 percent to 54 on reports that private equity firm THL is interested in a buyout of the company’s US business (Briefing).

Bank of America (BAC) fell to a 52-week low of $5.1 this morning, but has since battled back and is now down just a penny to $5.25 per share. Interesting trade in the bank this morning is a 39000-contract block of Jan 6 calls bought for 28 cents per contract. 57,570 now traded, making it today’s most actively traded options contract. 14,560 Dec 6 calls traded on the bank as well. Total volume through the first hour is 90K calls/49K puts and implied volatility in BAC options is steady at 79 percent.

Electronic Arts (ERTS) adds $1.37 to $22.20 and 15,877 Jan13 $30 calls are bought on the video game-maker for $1.71 per contract. It’s possibly closing. The contract is 35.1 percent OTM and 16,308 contracts traded against 21,760 in open interest. Or, it might be an opening play, as shares have recaptured a 200-day MA today and have been grinding higher over the past few months — up 26 percent since 8/10. A 52-week high was recorded earlier this month when the stock closed at $25.20 on 11/4.

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

It’s been a volatile day for SINA shareholders, as the stock fell to a 52-week low of $56.05 on talk Muddy Waters was set to unleash a negative research report on the Chinese Internet company. Shares are now down $3.15 to $60 and off session lows after Muddy Waters denied the speculation (per Benzinga). Still, shares are down and implied volatility in SINA options up 17 percent to 97, on 3X the daily options volume for the name. 19,000 calls and 46,000 puts traded in SINA so far. Dec 40 puts are the most actives and traded predominatly (75 percent) on the bid. 5,920 changed hands. Weekly (12/2) 50, 55 and 57.5 puts are the next most actives in SINA today.

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