Blogging Options: CBOE Morning Update 6/24

Stock Mover’s:
 
Micron (MU) is recently down 11% in pre-open trading following Q3 results falling short of analyst estimates. Overall option implied volatility of 51 is above its 26-week average of 45.
 
Accenture (ACN) is recently up 3% in pre-open trading on better than expected Q3 results. July put option implied volatility is at 31, November is at 29; above its 26-week average of 25, suggesting larger price movement.
 

Volatility as an asset class:
 
Oracle (ORCL) is recently down 4% in pre-open trading following Q4 earnings rising 36%, although hardware sales were flat. July put option implied volatility is at 37, August is at 32; above its 26-week average of 27.
 
 
CBOE significant call volume increases
 
BAX January 55 40K contracts
GLD June 149 25K 
PFE January 22.5 13K
AAPL June 330 11K
GLD July 149 11K
GM September 30 10K
ZAGG November 9K 

May Durables up 1.9% (April had been off 2.7%). 1Q GDP also up 1.9% (1.8% was expected).