Blogging Options: CBOE Morning Update

Stock Mover’s

J.C. Penney (JCP) is recently down 83c to $33.08 in pre-open trading after the company reported Q3 revenue of $3.99B vs. consensus $4.06B. Overall option implied volatility of 44 is near its 26-week average.

Boeing (BA) is recently up $2.00 in pre-open trading on an $18B price deal from Emirates for 50 B777-300ERs aircraft. Overall option implied volatility of 33 is near its 26-week average of 31.

iShares MSCI (EWG) is recently down 35c to $20.57 in pre-open trading. Overall option implied volatility of 46 is above its 26-week average of 34 according to Track Data, suggesting larger price movement.

CBOE significant put volume increases;
AAPL 11/11/2011 380 8K contracts
KRE 3/17/2012 21 6K
YHOO 1/21/2012 12.5 5K
BAC 11/19/2011 6 4K
ERTS 1/21/2012 21 4K
IBM 11/19/2011 175 3K 

Warren Buffett announced Berkshire bought some IBM shares this year, bringing his stake (estimated at 64 million shares) up to ~ 5.5% of IBM. There will be more info on his early this evening after he files a 13F with the SEC.

Futures flat to lower. Italian bond yield creeping higher and big US economic news this week.