Knight Capital Group (KCG), the global financial services firm, is seeing Bearish option order flow for the second day in a row.

A Bullish option player appears in wireless communications provider Sprint Nextel Corp. (S) this afternoon, looking for the shares to trade through the $3.00 level over the next two weeks.

Bearish Put options are dominating the early trading in Jeffries Group, Inc. (JEF) this morning as investors fear the company's net exposure to EU sovereign debt may lead it down the same path as MF Global.

Starwood Hotels & Resorts Worldwide Inc. (HOT) is seeing unusual option activity during the first half of today's session with a majority of the activity carrying a Bullish sentiment.

Early Bullish option order flow in Internet infrastructure provider VeriSign, Inc. (VRSN) with the focus on the near month Bullish 34 and 35 strike options.

St. Louis, MO based agricultural products provider Monsanto Co. (MON) sees a Bullish option player appear early in today's session

Research In Motion Limited (RIMM) shares have hit their lowest level in more than 6 years today and option activity suggests at least one investor believes the shares have hit a bottom and will rebound over the remainder of 2011.

Winston-Salem, NC- based biopharmaceutical company Targacept Inc. (TRGT) see a Bullish 3-way option strategy positioned this morning ahead of the company's Q3 earnings announcement after the close today.

With the Greek prime minister surprising the markets late yesterday with a call for a referendum on the country's austerity measures leading the financials sharply lower today, investors are turning to defensive option contracts in the Financial Select Sector SPDR ETF (XLF).

Retailer Bed Bath & Beyond Inc. (BBBY) shares are bucking the general market trend this morning, trading 1.2% higher, on renewed private equity chatter as mentioned on Theflyonthewall.com.

It's been a rough day for door-to-door cosmetic seller Avon Products, Inc. (AVP) with the company posting Q3 earnings this morning that missed estimates by 17% and announcing the SEC is investigating its contracts with financial analysts.

A long term Bullish option player appears in private mortgage insurer MGIC Investment Corp. (MTG) this morning with the purchase of 82,500 January '13 10 Calls at $.45.