– The third-largest seed producer in China received "final approval for commercial approval of the world's first genetically modified phytase corn", according to a Bloomberg article on Saturday. Shares surged more than 81% to $9.38 at times during the trading session, the biggest intraday price gain in the firm's history. Origin Agritech also received an upgrade to ‘outperform' from ‘market perform' at Rodman & Renshaw. Option traders appear to be selling covered calls in the December contract. Approximately 21,000 calls were sold at the December 10 strike for an average premium of 40 cents per contract. Investors retain shares of the underlying stock as well as the 40 cents premium on the sale if shares of SEED remain below $10.00 through expiration. Covered-call sellers appear happy to have shares called away at $10.00 should the call options land in-the-money by expiration. Finally, some traders purchased the December 10 strike calls as 3,700 lots were picked up for approximately 40 cents per contract. Option implied volatility is sky-high at 107.5% over the opening reading of 73.18%.

GLD - SPDR Gold Trust ETF – Bullish options activity in the June 2010 contract on the gold exchange-traded fund suggests significant upside potential for the price of gold bullion. Shares of the GLD are up 1.35% to a new record high of $114.47. One investor established a call spread on the fund. The trader bought 10,000 calls at the June 124 strike for an average premium of 5.90 apiece, spread against the sale of 10,000 calls at the higher June 152 strike for 1.94 each. The net cost of the transaction amounts to 3.96 per contract and yields maximum potential profits of 24.04 apiece if shares sky-rocket to $152.00 by expiration in June. The investor breaks even on the trade if shares of the GLD rise to $127.96, a 12% increase over the current price of the fund. The trader may realize maximum potential profits of 24.04 per contract if shares of the underlying jump 33% to $152.00 in the next seven months. And while this would put the spot price of gold above $1,500 a dollar in decline and seemingly record prices for gold daily, who are we to argue?

CMCSA - Comcast Corp. – Shares of the U.S. cable company are down more than 1% to $14.84 today, inspiring greater demand for near-term put options on the stock. Traders purchased 10,000 put options at the now in-the-money December 15 strike for an average premium of 50 cents apiece. Investors picking up the puts are likely long shares of the underlying stock. If this is the case, downside protection kicks in if shares of CMCSA decline beneath the breakeven price of $14.50 by expiration day.