AMR Corp. (AMR), the parent of American Airlines, is seeing Bullish option order flow today with the November 4.5 Calls receiving a majority of the focus.

Early Bullish Call buyers appear in oilfield service company Weatherford International Ltd. (WFT) with the focus on the October 15 strike options.

It appears someone is looking for downside protection in San Francisco CA based financial services provider The Charles Schwab Corp. ahead of the company's Q3 earnings release before the opening on Monday.

US Steel Corp. (X) shares are trading 3% higher this morning on renewed takeover chatter and option volume has already surpassed the company’s daily contract average during the first half hour of trading.

Arcelor Mittal (MT) is seeing Bullish option activity today with 2 notable trades.

Genworth Financial, Inc. (GNW) is seeing speculative option activity early in today's session.

Interesting early option activity in integrated circuit maker Marvell Technology Group Ltd. (MRVL) with a multi-exchange sweep of 5,000 October 16 weekly Calls.

Mortgage insurer MBIA Inc. (MBI) shares are trading 3% higher this morning and early option activity suggests some investors believe the recent upturn in the company’s shares will continue over the next couple weeks.

Oil and gas explorer/producer McMoRan Exploration Co. (MMR) saw its shares set a new 52 week low of $8.25 yesterday and option activity today suggests some investors believe the stock is oversold.

OmniVision Technologies Inc. (OVTI) is seeing early Bullish option activity today with opening near month Put sellers leading the way.

Diversified financial service company Wells Fargo (WFC) is seeing unusual Put activity during the first half of today's session with investors purchasing Bearish spreads in the January expiry.

Airline stocks are taking a nose dive today due to fears the weak economy will reduce travel demands and hit fares over the coming months. AMR Corp. (AMR), the parent company of American Airlines, is the worst performer with its stock trading 17% lower today and currently sitting at a two year low.