Blogging Options: CBOE Morning Update Thursday 6/30

Stock Mover’s
 
eBay (EBAY) is recently up 4.7% in pre-open trading on the removal of regulatory risk to PayPal after the Federal Reserve Board said third party networks are not being regulated as payments networks and Citigroup’s upgrade to Buy. Overall option implied volatility of 35 is above its 26-week average of 32. 

Volatility as an asset class
 
E-Commerce China Dangdang-DANG overall option implied volatility of 94 is above its 26-week average of 69.
 
Spreadtrum (SPRD) overall option implied volatility of 88 is above its 26-week average of 60.
 
Harbin Electric (HRBN) overall option implied volatility of 111 is above its 26-week average of 69.
 

CBOE significant call volume increases
 
UAL August 22 12K contracts
BAC August 12 11K
C1 January 2013 6 9K 
NLY August 18 9K
XOM August 85 5K 
BAC July 11 5136 0.3800 0.1700
HANS August 90 5K
KGC August 15 4K

End of the 2nd Quarter. DJIA within ~70 points of unchanged for the month of June. SPX & NASDAQ need bigger % rally to get to break-even.