Blogging Options: CBOE Mid-day Update

Target (TGT) raised its quarterly dividend to 30c from 25c as shares trade near their 30-month low. July put option implied volatility is at 24 October is at 26; compared to its 26-week average of 23, suggesting larger price movement.
 

J.M. Smucker (SJM) June put option implied volatility is at 33, July is at 25; compared to its 26-week average of 20 according to Track Data, suggesting larger near term price movement into the expected release of Q4 results on June 9.
 

Research in Motion (RIMM) is approaching 30-month lows following BofA/Merrill lowering its price target to $45 from $60. RIMM is expected to release Q1 results on June 16. June put option implied volatility is at 61, July is at 54; compared to its six-month average of 42.
 
CBOE Volatility Index-VIX down 25c to 17.79; 10-day moving average is 17.32, 50-day moving average 16.84