NEW YORK (CNN/Money) - Medtronic stock trading could be volatile Wednesday as the company awaits approval to sell medical devices in Europe, according to a newspaper report.

The Wall Street Journal reported Wednesday that Medtronic options were trading at prices showing investors expect the stock to swing sharply.

Medtronic (up $0.42 to $52.64, Research), based in Minneapolis, plans to present data on its heart stents at a European conference next week and will report earnings after the bell next Tuesday, the newspaper said.

These actions are potential catalysts for stock price volatility implied by the company's short-term option prices, the newspaper said. Implied volatility rose to about 28 percent from 24 percent Monday, it reported, citing Track Data, a New York-based provider of market data to institutional and individual investors.

Medtronic stock edged higher in active trading Tuesday.