Blogging Options: CBOE Morning Update

Stock Mover’s:
Bristol-Myers Squibb (BMY) up 7.4% and Pfizer’s (PFE) up 4.1% in pre-open trading following promising clinical results from stroke-preventing Eliquis.

Bristol-Myers Squibb and Pfizer’s overall option implied volatility of 20 and 23 are near their 26-week average.

Volatility as an asset class:
Cree (CREE) July put option implied volatility is at 52, September is at 55; compared to its 26-week average of 46 suggesting larger price movement as shares trend lower.
Eastman Kodak (EK) overall option implied volatility of 86 is above its 26-week average of 67.
CBOE significant call volume increases

BAC November 12 42K contracts
UAL July 22 9K
EK July 4 8K
MRVL January 2013 15 7K
CSCO January 2013 17.5 5K
July weeklys expiring on Friday July 1st begin trading today.