Blogging Options: CBOE Morning Update

Stock Mover’s
JP Morgan (JPM) is recently up $1.05 to $40.66 in pre-open trading on solid Q2 results and guidance. Overall option implied volatility of 29 is above its 26-week average of 26.

ETF Mover’s
Market Vector Gold Miners (GDX) is recently up 0.9% to $59.80 in pre-open trading as gold rallies 0.38% to $1591. Overall option implied volatility of 31 is near its 26-week average as gold trades at a record high

Volatility as an asset class
News Corp. (NWSA) overall option implied volatility of 36 is above its six-month average of 32, suggesting larger price movement on hacking scandal.

CBOE significant call volume increases
GLD July 150 13K contracts
SLE January 21 12K
INTC August 25 12K
AAPL July 360 11K
JPM July 40 8K
BAC July 11 8K
MSFT January 2013 28 7K

This morning’s data:

June PPI -0.4% 

Core PPI + 0.3%

June Retail Sales +0.1%

X-Auto Unch

Weekly Jobless Claims 405k, 14th week below 400k but coming down

Focus turns to budget process in Washington and 2nd Q earnings