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

Cemex (CX) loses 7 cents to $5.61 and morning trades on the Mexican cement company include a multi-exchange sweep of 3,913 Apr 3 puts for 16 cents per contract. Data from ISE indicate an opening buyer. 5,215 now traded against 9,473 in open interest. Implied volatility is steady around 68. CX shareholders endured a gut-wrenching stretch during the first nine months of 2011, as shares fell from $10.25 on the last day of 2010 to a 52-week low $2.60 on 10/3. Shares have since rallied 96.1 percent off those lows, but today’s April $3 put buyers are possibly bracing for another round of losses in CX over the first few months of 2012.

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

American Eagle Outfitters (AEO) is reeling after lowering its fourth quater earnings guidance and some investors are selling at-the-money puts on the stock. Shares of the apparel retailer are off $2.16 to $13 and the top options trade is a 3500-lot of Jan $13 puts at 40 cents on ISE, where data is reporting a closing seller. However, some of the flow is likely opening. 11,450 traded (73 percent Bid) against 7,928 in open interest. Meanwhile, implied volatility in the options on AEO is falling 5.5 percent to 35.5.