Blogging Options: CBOE Morning Update

Tiffany (TIF) is recently down $4.91 to $62.03 in pre-market trading into the company cutting FY EPS view to $3.60-$3.65 from $3.70-$3.80. Overall option implied volatility of 37 is below its 26-week average of 42.

Cirrus Logic (CRUS) is recently up $1.70 to $18.67 in pre-market trading on the company seeing Q4 revenue $105M vs. consensus $98.49M. overall option implied volatility of 53 is below its 26-week average of 58.

Alcoa (AA) is recently up 21c to $9.63 in the pre-market on line Q4 results and generally negative outlook. Overall option implied volatility of 46 is above its 26-week average of 44.

CBOE significant put volume increases;
 
MU 2/18/2012 6 17K contracts
AEO 2/18/2012 12 5K
BAC 1/21/2012 6 4K
AA 1/13/2012 9 4K
INHX 1/21/2012 22.5 4K 
YHOO 7/21/2012 14 4K
AAPL 1/13/2012 420 4K 
MSFT 1/21/2012 27.5 3K
NFLX 1/13/2012 90 3K

U.S. equities are higher on a better tone in Europe.
 
CBOE Volatility Index-VIX closed at 21.06, 10-day moving average is 22.05, 50-day moving average is 27.70.