Regions Financial Corp. (RF) is seeing early Bullish option activity today with an investor purchasing 10k Feb. 8 Calls with a majority trading at $.20.

J.C. Penny Co. (JCP) shares are trading 4.5% higher today following news that fellow department store company Dillard's intends to create a real estate investment trust to allow it to borrow against the real estate they own, thereby creating a new source of capital.

Seagate Technology PLC (STX) is seeing Bearish option order flow ahead of the company's second quarter earnings release after the close today.

Cypress Semiconductor Corp. (CY) shares set a new 52 week high of $21.71 last Friday and today it looks like one investor is looking for the shares to pause over the coming months.

Beazer Homes USA Inc. (BZH), one of the largest single-family homebuilders in the US, is seeing Bullish option activity with an investor(s) reaching out to August expiry and purchasing the Aug. 6-7 Call spread and simultaneously selling the Aug. 4 Put.

Myriad Genetics, Inc. (MYGN), a leading molecular diagnostic company, sees a Bullish option trade this morning ahead of the company's presentation at the J.P. Morgan Healthcare Conference this afternoon.

Advanced Micro Devices, Inc. (AMD) is seeing unusual option volume this morning following the surprise exit of CEO Dirk Meyer last night.

Apollo Group Inc. (APOL) is seeing Bearish option order flow ahead of Mondays Q1 earnings release

Smithfield Foods, Inc. (SFD) sees a flurry of Call buying this afternoon with nearly 20,000 contracts being purchased in the Feb. 22 and 23 strikes.

Best Buy Co. (BBY) shares are trading 2.2% higher this afternoon following news reported by Theflyonthewall.com that hedge fund manager Bill Ackman may be interested in the company.

TiVo Inc. (TIVO) sees an investor create a Bullish five month option position this morning with the purchase of the May 17.5 ? 20 Call spread 12,900 times, paying a premium of $.32.

Genco Shipping and Trading Limited (GNK) is seeing over 5 times its average daily contract volume this morning with investors focusing on the Feb. 14 Calls.