Tech stocks, energy issues and names in the headlines like Cablevision ( CVC) were among the most actively traded options Tuesday. 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 up 0.6% to 14.83. The CBOE Nasdaq Volatility Index, a measure of the implied volatility of the Nasdaq 100, was climbing 1.5% to 15.47. November options in Guidant ( GDT) were heavily traded as investors awaited a vote by the Federal Trade Commission on the company's planned acquisition by Johnson & Johnson ( JNJ). The November 65 calls have traded 15,300 times and were down 20 cents. Traders swapped 8,000 contracts on the November 70 calls, and the November 65 puts traded 3,200 times. J&J has offered to buy Guidant for $76 a share. However, because Guidant had a series of device recalls earlier this year, J&J said last week that it would consider alternatives to the merger pact. Guidant was down 55 cents, or 0.9%, to $64.37. Cablevision ( CVC) saw more than 16,000 of the January 2007 calls striking at 30 trade after the company said the controlling Dolan family backed out of a plan to take it private. The news pressured the stock, and in this case the call seller doesn't expect Cablevision's shares to trade above $30 by the expiration. The open interest for the strike prior to the trade was 20,972 contracts. Shares of Cablevision were off $3.64, or 13.1%, to $24.16. Drugmaker Pfizer ( PFE) had bullish call buying in its December and January options. The December 25 calls have traded 8,500 times, and the January 25 calls changed hands 7,200 times. With Pfizer trading up 8 cents at $21.17, the calls are out of the money. Here, the buyer is anticipating a large move up in the stock in the coming months.