Blogging Options: CBOE Morning Update

Stock Mover’s
 
MetroPCS (PCS) is recently down 17% in pre-open trading after reporting adjusted Q2 EPS of 24c compared to consensus 28c on revenue of $1.2B vs. compared to $1.23B. Overall option implied volatility of 47 is above its 26-week average of 39.
 

Volatility as an asset class
 
Pfizer (PFE) reported Q2 EPS 60c compared to consensus 59c and reaffirmed its 2011 EPS outlook of $2.16-$2.26. Overall option implied volatility of 25 is above its 26-week average of 24.
 
Apple (AAPL) overall option implied volatility of 31 is near its 26-week average as shares have recently trended off its record high of $404.50. November out of the money 410 call option implied volatility is at 29, November 380 put option implied volatility is at 32.
 

CBOE significant put volume increases
 
MSFT January 2013 25 8K contracts
INTC September 21 3K
MSFT August 26 3K
VRX October 42 3K
FNSR August 16 2K
WLP August 65 2K
TXN August 29 2K
PEP August 62.5 2K
LLEN August 3 2K
 
The five most actively traded equity options at CBOE during July were Apple (AAPL), Bank of America (BAC), Microsoft (MSFT), Citigroup (C) and Ford Motor Company (F).

 

Income (June) + 0.1% (May +0.2%)

Spending (June) +0.2% (May +0.1%) First decline in 20 months