While overall option volume is very light, TIVO is seeing unusually heavy activity, with 12000 contracts trading, triple the typical daily volume for the name. Puts dominate the flow with a closing customer buyer of Jan 11 puts for $2.34 early in the day when shares were near 8.85. Flow history on these suggest the buyer likely put on the position earlier this year near $2 when shares were around $9. Meanwhile, implied volatility in the options on the stock is among the big movers today. IV in TIVO is up 31 percent to 84! Shares have ranged from the low $7 level in Aug to a few brief peaks near $11. Earnings expected early-March.

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

James River Coal (JRCC) adds 24 cents to $6.53 and options action on the coal producer is heating up today. June 7 calls, which are 7.2 percent out-of-the-money, are the most actives. The flow includes two sweeps of 1350 contracts (2700 total) for $1.275 when the market was $1.15 to $1.30. Volume is now 5140 against just 12 contracts in open interest. June $10, June $12, May 8 and May 10 calls on JRCC are seeing interest as well and implied volatility is up 8.5 percent to 84. Some investors might be expecting the stock to rebound during the first half of 2012 after a dismal performance in 2011. Shares are off 74.3 percent year-to-date.

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

Lowe’s (LOW) is up 32 cents to $25.38 today after announcing plans to buy online home improvement retailer ATG Stores. The stock is now up 31.2 percent since September. Some investors might be looking to hedge the recent gains, as a 6980-lot of Feb 25 puts traded on LOW today for 93 cents when the market was 91 to 93 cents. 10,110 now traded against 880 in open interest. The company last reported earnings on Nov 14 and will possibly report again before the Feb 18, 2012 expiration. The company reaffirmed its full year earnings and revenue outlook on 12/6.