A bounce higher Wednesday in equities pushed options volatility lower, although levels still remain significantly above their 50-day moving average.

The CBOE Market Volatility Index (VIX) was recently down 6.4% to 34.65, continuing – like stocks – to trade within a range it has stayed for the past month.

The CBOE put/call ratio was recently at 0.95.

Here are a few of Wednesday’s notable options movers:

STEC Inc. (NASDAQ:STEC): Its calls are seeing interest following renewed merger interest. Its Sep 10 calls had volume of 3,260 contracts vs. open interest of 4,750, pushing implied volatility up to 75%. Shares of STEC were recently up 4.9% to $9.40.

Hertz (NYSE:HTZ): Its Dec 13 calls are catching attention with 4,350 contracts vs. open interest of 13,900. Implied volatility is up to 75%. The company is expected to report earnings in early November.  The stock was recently up 6% to $10.48.

Cisco (NASDAQ:CSCO): The company’s Sep 16 calls have 4,090 contracts trading vs. open interest of 106,100, lifting implied volatility to 38%. An analysts’ note on Wednesday mentioned sales executives leaving Juniper Networks (NASDAQ:JNPR) for Cisco, while takeover chatter surrounding Acme Packet (NASDAQ:APKT) has mentioned Cisco as a potential bidder. Cisco shares were recently up 2% to $15.58.

Medivation (NASDAQ:MDVN): Its Sep 14 puts have 1,350 contracts trading vs. open interest of 50, boosting implied volatility to 212%. The company is scheduled to present at the UBS Global Life Sciences Conference on Sept. 21. Its stock was recently up more than 3% to $18.01.