Blogging Options: Mid-day Update

Netflix (NFLX) June 270 and 275 calls are active on the CBOE into Apple’s (AAPL) World Wide Developers Conference 2011. June put option implied volatility is at 41, July is at 43, September is at 47; below its 26-week average of 50.
 
Citigroup (C) June 43 calls are active on the CBOE with total volume of 180K contracts trading as the shares trade near its eight month lows. June put option implied volatility is at 41, July is at 43, September is at 47; below its 26-week average of 50.

Lorillard (LO) is recently down 6.3% following a downgraded to Equal Weight from Overweight at Morgan Stanley and Barron’s saying the shares look too risky. June put option implied volatility is at 48, July is at 61; above its 26-week average of 30, suggesting larger price movement.

CBOE S&P 500 3-month Volatility Index-VXV is recently up 1% to 19.25.