Blogging Options: CBOE Morning Update

Stock Mover’s
 
 
Walgreen (WAG) is recently up 3% in pre-open trading after reporting Q4 adjusted EPS 57c vs. consensus 55c on revenue of $18B vs. consensus $17.88B. Overall option implied volatility of 39 is above its 26-week average of 28.
 
Freeport-McMoRan (FCX) is recently up 3.3% in pre-open trading as copper bounces up from the low end of its one-year range. Freeport McMoRan overall option implied volatility of 60 is above its 26-week average of 45.

Alcoa (AA) is recently up 3% in pre-open trading as aluminum prices tick up form the low end of its one year range. Overall option implied volatility of 54 is above its 26-week average of 38, suggesting larger price movement.
 

CBOE significant call volume increases
 
WFC 1/21/2012 26 41K contracts
BAC 1/21/2012 9 11K
GLD 10/22/2011 170 8K
AKS 10/22/2011 9 6K
EP 11/19/2011 18 5K
ABX 1/19/2013 60 5K


Grind higher. Temp budget resolution helps. End of Quarter options expire Friday.