Blogging Options: Mid-day Update

CBOE VIX futures June at 18.35, August 20.95, January 24.10; suggesting larger convexity in front months

Citigroup (C) is recently down 35c to $39.81, near a seven month low after a one-for-ten stock split from early May. Options are active on CBOE with 243K contracts trading. June and July put option implied volatility at 27; below its six-month average of 34, suggest decreasing price movement.
 
Market Vector Gold Miners (GDX) is recently up 72c to $56.06. Gold is recently down 0.08% to $1521 according to Bloomberg. Overall option implied volatility of 32 is near its 26-week average, suggesting non-directional price movement.
 
Option traders are aware of that their are three and a half trading days into next six and half days.