Blogging Options: CBOE Mid-day Update

Stock Mover’s

Vulcan Materials (VMC) is recently up $5.76 to $39.33 after Martin Marietta Materials (MLM) launched a hostile bid to acquire the company for about $4.76B in stock. Under the terms of the exchange offer, each outstanding share of Vulcan will be exchanged for 0.50 Martin Marietta shares. VMC January call option implied volatility is at 51, February is at 43 compared to its 26-week average of 44.

Martin Marietta (MLM) January call option implied volatility is at 43, April is at 40 above its 26-week average of 33.

Intel (INTC) is recently down $1.16 to $23.85 after the company lowered Q4 forecast on HDD shortages. January and February call option implied volatility of 29 is below its 26-week average of 31.
CBOE Volatility Index (VIX) is up 99c to 27.38; SPY 500 down 2.1% to session lows as investors wait for decisions on the European summit accord from last week.