Blogging Options: CBOE Afternoon Update

Volatility as an asset class
 

Lower commodity prices has resulted in volatility trending lower.
 
United States Oil Fund-USO is recently down 14c to $37.10. WTI Crude futures are recently down 0.80% to $94.66. Overall option implied volatility of 32 is below its six-month average of 31.

iShares Silver Trust-SLV is recently down 2.6% to $32.95. Silver Futures are recently down 2.06% to $34.13. Overall option implied volatility of 29 is below its six-month average of 39.
 
SPDR Gold Trust-GLD is recently down 1% as gold has sold off 0.77% to $1491. Overall option implied volatility of 17 is below its 26-week average of 19.
 
Freeport McMoRan-FCX is recently down 0.8% to $53.32. Copper futures are recently up 0.33%. Overall option implied volatility of 40 is below its 26-week average of 42.

Long weekend – not much news expected in last 2 hours of trading. 1340 mentioned as next resistance level on SPX.