Option traders appear to be setting up for a bullish move on Cypress Bioscience, Inc. (CYPB). Traders plowed into 1,305 new call option contracts -- 19.19 times the average volume -- on the stock on Friday. And we know that traders were eager to get into this trade because 100% of the trades came in on the ask price.

Cypress has been in a downtrend since hitting a high around $10.00 in July 2009. The stock closed Friday at $3.39, down 10.79% during the past month.

It appears that the Chinese yuan, drug makers and investment banks caught the attention of traders Tuesday -- at least, that's what they're searching for.

If you want to know what stocks traders are interested in right now at this very second, you need look no further than what's hot in Google.

Here's what's hot today.

Analyst Upgrades

• Kaufman Bros. upgraded Yahoo! (YHOO) to buy from hold after channel checks indicated display advertising is seeing continued improvement in pricing and demand. The firm finds the risk/reward profile on Yahoo! shares attractive at current levels and raised its price target on the stock to $20 from $19.
• Citigroup upgraded Edwards Lifesciences (EW) to buy from hold following the company's investor meeting as it believes new product launches will serve as catalysts in 2010. Citi raised its target on shares to $101 from $72.
• Deutsche Bank upgraded BWAY Holding (BWY) to buy from hold following the company's Q4 results and raised its target on shares to $22 from $17.
• Clearwire (CLWR) was upgraded to buy from sell at Soleil.
• Nokia (NOK) was raised to hold from sell at Societe Generale.
• NCR Corp. (NCR) was upgraded at JPMorgan to overweight from neutral.

MOST NOTEWORTHY: Cypress Bioscience, Banc of America, Insulet, Taleo and Vocus Inc were today's noteworthy initiations:

• Friedman Billings started shares of Cypress Biosciences Inc (NASDAQ: CYPB) with an Outperform rating and $22 target, and is positive on the company's lead product milnacipran, in Phase III studies for fibromyalgia. The firm expects a 1Q09 launch and believes the U.S. market could be as large as $7B.
  
• Goldman resumed coverage of Bank of America Corporation (NYSE: BAC) with a Buy rating and $63 target as they believe the company has around $22.5B of unrealized gains in its strategic investment portfolio. Goldman also added BAC to their Americas Buy List.
  
• Insulet Corporation (NASDAQ: PODD) was initiated at William Blair with an Outperform rating. The firm believes the unique features of the OmniPod will allow PODD to capture a meaningful portion of the 300,000 current insulin pumpers in the United States.
  
• Soleil started shares of Taleo Corporation (NASDAQ: TLEO) with a Buy rating and $35 target and believes the company's recent growth pace can continue.
  
• Shares of Vocus Inc (NASDAQ: VOCS) were also initiated at Soleil with a Buy rating and $39 target. The firm believes the company can gain share in the early stage market for public relations software given its on-demand model and low price entry point.

OTHER INITIATIONS:

• Cowen initiated shares of Lions Gate Entertainment Corp (NYSE: LGF) and Marvel Entertainment Inc (NYSE: MVL) with an Outperform rating and shares of Dreamworks Animation SKG Inc (NYSE: DWA) with a Neutral rating.
  
• Goldman resumed coverage of Nintendo Co Ltd (OTC: NTDOY) with a Buy rating.