Blogging Options: CBOE Morning Update

Volatility as an asset class:
 
"Gang of Four" option implied volatility; Apple, Amazon, Google, Facebook.
 
AAPL and AMZN August volatility is elevated into the expected release of results in the August cycle, while GOOG July volatility is higher than August on expectations of Q2 results being released in the July cycle.
 
Apple (AAPL) July put option implied volatility is at 28, August is at 31; compared to its six-month average of 31.
Amazon (AMZN) July put option implied volatility is at 36, August is at 41; compared to its 26-week average of 34.
Google (GOOG) July put option implied volatility is at 37, August is at 30; compared to its 26-week average of 28.
Facebook is expected to go public in early 2012.
 

CBOE significant call volume increases
 
GLD July 150 16K
BRCD July 6 12K
LZ September 135 11K
AAPL June 330 9K
VLO December 29 7K

Futures up slightly, before the release of the Personal Income and Spending numbers