So much for writers not working during the strike.

Amid buzz of a possible WGA settlement, agents and studio execs are bracing for the inevitable: a deluge of spec scripts.

Ever since UA followed in the footsteps of David Letterman‘s Worldwide Pants and signed an interim deal with the WGA, scribes have been hammering away at specs. And with the number of interim deals now at a dozen (including Lionsgate, TWC and Marvel), screenwriters can legitimately claim they’ve been writing for an indie without running afoul of the guild’s strike rules.

“There wasn’t much activity before the holidays, but everyone’s hammering away now,” says one lit agent.

Even though many believe it was OK to work on specs prior to the interim deals, that’s not true, per the WGA strike rules: “You may not continue to write or complete writing started before the strike for a struck company. You may not start writing on a new project during a strike. You may not perform writing services even if you work at home or at your own office rather than at the company’s premises.”

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To hear tenpercenters tell it, though, those rules are indeed being ignored. If the WGA settles in the next few weeks and sends the deal out for ratification, they expect a tsunami of scripts to hit the major studios in early March.