Frontier Communications (FTR) tumbled to $3.81 early and is trading down 22 cents to $4.25 on volume of 23 million shares, which is almost 7X the typical volume. Options action in the Stamford, CT telcomm is picking up as well. 20,000 calls and 7,475 puts traded on the stock so far. Mar 4 call buyers are leading the flow. Recent trades include a multi-exchange sweep of 2500 for 40 cents when the market was 30 to 40 cents. A 1,177-lot traded for 32.5 cents thirty minutes ago on ISE and was an opening buyer, according to ISEE data. 12,331 Mar 4 calls now traded on the stock against 220 in open interest. Aug 4 puts, Mar 5 calls, and May 5 calls are seeing interest as well and, as shares touch 52week lows Friday, implied volatility in FTR options is up 39.5 to 61 and new 52-week highs. It’s not clear what’s driving the volatile action in this stock today, as there are no obvious headlines. Earnings expected about a month from now.