Last week we noted a pickup in call-side activity in retail giant Target on rumors that the discount chain might be looking to divest its credit card business.

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What the managers downplay, as Mr. Ruff discussed yesterday, is the fact that this call to arrange the pickup of the gifts comes after the time Ms. Lewinsky repeatedly testified that the gifts were picked up by Ms. Currie.

CNN: Transcript: White House Deputy Counsel Mills' statement

After a frenzied pickup in call volume and volatility a couple of weeks back on buyout news that ultimately fizzled, options action in department store chain Macy's (nyse: M) also picked up late this week, with a skew to the call side and no sign of a corporate announcement.

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Huge volume pickup was seen on the call side, where some 11, 500 contracts moved at the 67.5 strike, and nearly 10, 000 went through at the 65.0 strike.

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