Blogging Options: CBOE Mid-day Update

Volatility as an asset class
 
VXX I.V. ‘dif’ wide, USO I.V. at low end of range, GLD’s low I.V. reflects tight trading range of gold

iPath S&P 500 VIX Short-Term Futures-VXX is recently up 22c to $20.59. August call option implied volatility is at 59, December is at 68, suggesting larger outer month risk

United States Oil Fund-USO is recently down 3c to $37.93. WTI Crude futures are up .03% to $96.92. Overall option implied volatility of 29 is below its 26-week average of 31, suggesting slightly less price movement. 

SPDR Gold Trust-GLD July 150 calls are active on total option volume of 293K contracts on the CBOE. July call option implied volatility is at 14, August is at 13, September is at 14; below its 26-week average of 19, reflecting the tight trading range gold has recently been in.