Advanced Micro (AMD) implied volatility is moving up ahead of its earnings. The chipmaker is due to report after the closing bell today and some players in the options mart are likely bracing for a volatile move in the stock because the average daily post-earnings move over the past four quarters has been greater than 8 percent. Share volume is 25.5 million and more than double the typical. 24,000 puts and 21,000 calls traded on the stock, or 4X the typical options activity for AMD. Feb 6 puts, which are 10 percent OTM and expiring in 24 days, are being bought-to-open on ISE — 3000X so far. Total volume in the contract is more than 9000. Feb 6 calls, Feb 7 calls, Feb 7 puts and April 7 calls are among the most actives and implied volatility in AMD options is up almost 15 percent to 61.5.

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

Clean Energy Fuels (CLNE) adds 70 cents to $15 and implied volatility in the options on the stock is higher amid optimism President Obama will highlight the benefits of natural gas technologies during tonight’s State of the Union address. Feb 16 calls, which are 6.7 percent OTM and expiring in 24 days, are the most actives. 2,045 traded. Feb and Mar 14 and 15 calls are also seeing interest and implied volatility in CLNE options is up 16.5 percent to 47.5.

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

Nokia (NOK) is down 7 percent to $5.33 on heavy volume of 36 million shares following a profit warning from Royal KPN (also hearing Danske Bank may have cut their rating on the stock to Sell.) The volatility in shares comes two days before the Finnish phone company is due to report earnings. Options on the stock are actively traded as well. 9,100 calls and 9,300 puts so far. The top trade is a 2000-lot of July 5 puts at the 73-cent asking price, which might be some downside protection ahead of the earnings news. Feb 5 puts are the most actives, with 2880 taded. Mar 4 puts, Jun 4 puts, Mar 6 calls and April 6 calls are also seeing interest and implied volatility in NOK options is moving up 4.5 percent to 62.