As a pre-reading activity, I have my student group work on a word sort while I am getting the rest of the class situated in their centers. This gives me some flexibility while my group is working.
I choose several words from the story that may be difficult for the kids or help in understanding the context. We read them briefly as a group and they are off on their own to sort them into categories.
Sometimes they sort alphabetically. Sometimes groups sort based on nouns, verbs and adjectives. I have had groups categorizes based on the meaning of the words.
It amazing what they come up with and how well they work as a group once you have established the guidelines.
Word sorts are always a great way to introduce vocabulary. To extend this activity, have your students play concentration with their new vocabulary words. Have students create word card pairs, one with the vocabulary word and one with the definition of the word. Kids can play memory and match each word with its definition. A great activity after reading the story to give you some flexibility to check on your other groups.