Blogging Options: CBOE Morning Update

Volatility as an asset class
 
CBOE Volatility Index (VIX) closed at 20.95; above its 100-day moving average of 18.36.
 

Stock Mover’s
 
Harley-Davidson (HOG) is recently up 6% in pre-open trading on Q2 EPS of 81c, a raised 2011 gross margin and motorcycle shipment guidance. Overall option implied volatility of 36 is near its 26-week average.
 
Wynn Resorts (WYNN) is recently up 2.5% in pre-open trading on better than expected Q2 results. Overall option implied volatility of 39 is near its 26-week average.
 
Goldman Sachs (GS) is recently down 3% following disappointing Q2 results. Overall option implied volatility of 29 is above its 26-week average of 26.
 

CBOE significant call volume increases
 
BAC September 1013K contracts
C1 January 2.5 10K
GILD September 42 7K
ADTN November 40 6K

Other earnings this morning have BofA unchanged, KO up, JNJ off.

Housing Starts up 14%, Permits up 2.5% but off from last month’s rise of 8.2%

Furures higher