Power One Inc. $8.23 -9.26% (PWER)

From What's Trading:

Power One (PWER) with relative weakness and increasing put activity. Shares are down 10.7 percent to $8.10 and today’s options volume of 12,000 puts and 5,600 calls is more than double the recent average daily. The top trade is a 1,337 Mar 7 puts that recently traded at the 10-cent asking price. Looks like an opening buyer. 5,400 now traded. Mar 8 and 9 puts are busy as well. Looks like mixed trading in Mar 9 calls. Implied volatility is 14 percent to 58 and today’s flow seems to reflect concerns about additional short-term weakness in shares of the Carmarillo, CA power conversion maker. No news on the stock.

Nothing company specific, the story of the day is Italy, Italy, Italy.