Options as an asset class
HCA Holdings (HCA) is recently up $1.64 to $28.08 on a better than expected Q4 profit increase, solid outlook and a special $2 dividend. Overall option implied volatility of 44 is below its 26-week average of 50.
Sohu.com (SOHU) is recently down 14.8% to $53.67 following less than expected 2012 guidance. February put option implied volatility is at 58, March is at 60; compared to its 26-week average of 65.
Changyou.com (CYOU) is recently down $3.09 to $26 on Q4 results above expectations, but Q1 2012 guidance below expectations. February and March put option implied volatility of 60 is below its 26-week average of 64.