Blogging Options: CBOE Mid-day Update

Oil related index’s and ETF volatility increases as oil trades below $91 following an announcement by the IEA that they would release oil from strategic reserves.
 
Volatility as an asset class:
 
Energy Select (XLE) is recently down 2.4% to $71.36. July put option implied volatility is at 29, August is at 28; above its 26-week average of 24, suggesting larger price movement. 
 
Oil Services Holders Trust (OIH) is recently down 2.1%. July and August 140 puts are active, with July put option implied volatility at 29, August at 32; compared to its six-month average of 29 according to Track Data, suggesting larger outer month price movement. 
 
Oracle (ORCL) July 31 and 32 calls are active into the expected release of Q4 results today. July put option implied volatility is at 37, August is at 32; above its 26-week average of 27.