Note the falling IV30™. The company has traded over 41,500 options today in the first few hours on total daily average option volume of 10,119. Further, 38,000 + have been calls for a 10:1 call: put ratio. The Company Tab snapshot is in the article. 10,500 Feb 14 calls have been traded and 14,500 May 14 calls traded as well. Feb 12.5/14 1x3 Call spread traded 3000 x 9000 at 8 cents and crossed on the PHLX (sell 14 buy 12.5). The day's biggest trades and Option Tab snapshots (Feb and May) are included in the article. Note the low open interest relative to trade size in the Feb 14 and May 14 calls -these are opening trades. Finally the Charts Tab snapshot is included in the article. You can see the stock is hitting new recent highs off of a bounce from earnings. 52 wk. high is 12.87. The PnL for the 1 x 3 call spread is included in the article. Max Gain with stock at $14. Break Even Low: 12.58 Break Even High: 14.71 This is bullish with a limit. The naked call purchases in May are obviously bullish unless they traded with stock. You can see details, prices, charts and trades here: http://livevol.blogspot.com/2010/01/fitb.html