Option traders seemed relieved Monday after Hurricane Rita brought less destruction to the Gulf Coast region than some had anticipated, and any fear that was priced into the market before the storm appears to be gone.

The CBOE Market Volatility Index (VIX), which is based on the implied volatility of the

S&P 500

options and is used as a gauge for fear in the market, was recently down 1.93% to 12.71. The CBOE Nasdaq Volatility Index, a measure of the implied volatility of the Nasdaq 100, was lower by 2.84% to 14.73.

Comcast

(CMCSA) - Get Report

had a seller of the January 2006 30 puts 20,900 times as the stock traded higher by 1.25%. Comcast was up 36 cents to $29.35.

Chipmaker

Advanced Micro Devices

(AMD) - Get Report

saw buyers of calls and sellers of puts after a positive article in

Barron's

over the weekend. The October 22.50 calls have traded 2,100 contracts, while the October 25 calls have traded 1,500 times. The October 22.50 puts have traded more than 11,800 times. The stock was up 67 cents, or 2.92%, to $23.65.

eBay

(EBAY) - Get Report

had activity in its October options, including the 37.50 calls, which traded 1,000 contracts. The October 40 calls traded 13,700 contracts, and the October 45 calls have traded 1,100 times. The stock was up 17 cents, or 0.44%, to $38.95.

Meanwhile,

Pfizer

(PFE) - Get Report

had a seller of the November 25 puts more than 10,000 times. Also, the October 25 puts have traded 2,300 times, and the October 27.50 calls have traded 3,900 contracts. Pfizer shares were higher by 27 cents, or 1.09%, to $25.14.

Wireless provider

Sprint Nextel

(S) - Get Report

saw a buyer of the January 2007 30 calls 10,000 times. The buyer of these calls is bullish on the long-term outlook of the company and believes the stock will trade above $30 by January 2007. The stock was up 32 cents, or 1.31%, to $24.68.

Computer maker

Apple

(AAPL) - Get Report

had heavy call-buying in its October options. The October 50 calls have traded 7,200 times, and the October 55 calls have traded 9,000 contracts. The October 57.50 calls have traded 2,700 times. The October 50 puts were sold 8,000 times and were down 35 cents. Apple shares rose 64 cents, or 1.20%, to $53.84.

JDS Uniphase

(JDSU)

saw a buyer of the October 2.50 calls more than 6,500 times. The stock was up a penny, or 0.51%, to $1.96.