As Joseph Lazzaro wrote earlier, the market has been selling-off today on inflation concerns, but not all stocks have been hit by today's sell off. In fact, there have been a handful of notable names that have managed to gain ground in today's session.

Shares of wireless carrier Leap Wireless International Inc. (NASDAQ: LEAP) have been surging today, even as the company reported yesterday evening a third-quarter loss of $43.3 million, or 64 cents a share. Analysts had only been expecting to see the wireless carrier show a loss of 22 cents a share, excluding items, according to Reuters Estimates. Included in the company's loss figures were 55 cents per share related to a quarterly change in tax accounting methods. Excluding that, Leap posted a loss of 9 cents a share, handily beating analyst estimates.

The company had a pretty good quarter overall. If you take a look at sales, you see a very respectable jump of 40% in the quarter, which is a great increase. The company posted a third-quarter revenue of $409.7 million, topping analysts' expectations for sales of $405.6 million.

Looking ahead, a Bear Stearns analyst said he anticipates strong gains for Leap Wireless due to the Christmas shopping season. The wireless carrier is also optimistic and expects further improvements in key areas like subscriber growth.

As the market continues to deal with mounting economic concerns, do not be surprised to see the company continue to move higher into next week.

Eliza Popescu is a financial writer for the online investment advisory service Investor's Observer.

Note: The Daily Option Update is provided by Stock Options Specialist Paul Foster of theflyonthewall.com.

Volatility Index S&P 500 Options-VIX down .38 to 10.27.

Cisco Systems-(NASDAQ:CSCO) option implied volatility decreases; suggesting less risk

Cisco is recently up $1.17 to $28.45 after announcing better than expected financials. American Technology Research reiterated its Buy rating and $36 price target on Cisco because "we believe CSCO is best-positioned to drive converged (voice, data, video, wireless) IP networks." SBSH keeps its neutral rating on CSCO. CSCO call option volume of 100,807 contracts compares to put volume of 29,585 contracts. CSCO March option implied volatility of 24 is below its 26-week average of 28 according to Track Data, suggesting decreasing price fluctuations.

MasterCard-(NYSE:MA) February option prices bid up into 2/9 EPS & Outlook

MasterCard, a global payment solutions company, will report EPS on 2/9. Merrill Lynch has Neutral rating on MasterCard. MasterCard February straddle is priced at $9.30, above its theoretical value of $5.90 suggesting larger near term risks. MA call option volume of 4,279 contracts compares to put volume of 2,235 contracts. MA March option implied volatility of 40 is near its 26-week average of 38 according to Track Data, indicating non-directional price fluctuations in next six weeks.

Novelis-(NYSE:NVL) option implied volatility increase continues; indicating price risks

NVL, a manufacturer of aluminum rolled products with approximately 12,500 employees, and $8.4 billion in 2005 revenue, is recently up $4 to $40.85. Novelis said on 1/26/07 "it is currently in discussions with various parties that could lead to a potential sale of the company." BMOC Capital says "NVL has good assets, a strong market position and the potential to improve margins in the longer term, which could make it attractive for a strategic buyer." NVL March option implied volatility of 54 is above a level of 45 from yesterday, above a level of 34 from 2/5 and above its 26-week average of 39 according to Track Data, suggesting larger price risks.

Option volume leaders today were: Cisco-CSCO, Broadcom (NASDAQ: BRCM), Altria (NYSE: MO) and Intel (NASDAQ: INTC).