Blogging Options: CBOE Morning Update

Stock Mover’s:

Thomas & Betts (TNB) will be acquired for $72 per share in cash or approximately $3.9B by ABB (ABB). TNB overall option implied volatility of 30 is below its 26-week average of 39.
 
Pep Boys (PBY) will be acquired for approximately $15 per share by Gores Group. PBY overall option implied volatility of 39 is below its 26-week average of 48.
 
Gannett (GCI) closed at $15.22 into reporting Q4 EPS 72c vs. consensus 68c. Overall option implied volatility of 40 is below its 26-week average of 48.

Significant put volume increases;

STX 2/18/2012 19 14K contracts
BAC 2/18/2012 7 8K
CTL 2/18/2012 33 6K
AAPL 1/27/2012 445 5K
NFLX 1/27/2012 120K
CAT 5/19/2012 90 3K
NFLX 1/27/2012 115 3K
ITUB 6/16/2012 19 3K
VALE 6/16/2012 24 3K
 
 
CBOE Volatility Index-VIX closed at 18.53, 50-day moving average is 24.93.

U.S. equities are lower in the pre-market on Greece and Japan debt concerns. Income and US Savings rate up slightly, Spending off. Airlines taking off on merger stories, Financials higher on upgrades. Super Bowl week.

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