Blame it on the Holidays, early morning meetings, whatev.
From What's Trading, December 29th, 2011 12:46 p:m:
James River Coal (JRCC) adds 24 cents to $6.53 and options action on the coal producer is heating up today. June 7 calls, which are 7.2 percent out-of-the-money, are the most actives. The flow includes two sweeps of 1350 contracts (2700 total) for $1.275 when the market was $1.15 to $1.30. Volume is now 5140 against just 12 contracts in open interest. June $10, June $12, May 8 and May 10 calls on JRCC are seeing interest as well and implied volatility is up 8.5 percent to 84. Some investors might be expecting the stock to rebound during the first half of 2012 after a dismal performance in 2011. Shares are off 74.3 percent year-to-date.The stock is now trading at $6.98, up 8.89%.
Sorry about that. Don't chase.