Appending the params to the generated query string by http_build_query
did the trick.
$options = array(
'http' => array(
'header' => "Content-type: application/x-www-form-urlencoded\r\n",
'method' => 'POST',
'content' => http_build_query($data)."&colbits=cb_id&colbits=cb_altid&colbits=cb_ra&colbits=cb_mag",
),
);