Blogging Options: CBOE Morning Update

olatility as an asset class
U.S. equity’s are mixed in pre-open trading as gold trades near a five-month low and silver is near an 11-month low.

Market Vector Gold Miners (GDX) overall option implied volatility of 38 is near its 26-week average as gold sells off 2.14% to $1,529.

VIX methodology for Market Vectors Gold Miners Fund (VXGDX) at 39.77, below 50-day moving average of 40.85.
iShares Silver Trust (SLV) overall implied volatility of 45 is near its 26-week average of 44 as silver trades down 3.12% to $28.09.
VIX methodology for iShares Silver Trust (VXSLV) closed at 48.07; below its 50-day moving average of 51.95.

CBOE Volatility Index-VIX closed at 23.52, 10-day moving average is 23.23, 50-day moving average is 29.08.

CBOE significant call volume increases;
GLD 2/18/2012 160 13K contracts
BAC 1/19/2013 10 8K
C 1/19/2013 35 6K
NEOP 1/19/2013 3 5K
AAPL 12/30/2011 405 4K
BAC 12/30/2011 5 3K
FAST 1/21/2012 42.5 3K

Quiet pre-trading. Yield of Italian auctions and size of accepted bids not great, but acceptable to traders. Euro below 129.