Blogging Options: CBOE Mid-day Update

Volatility as an asset class
 

BB&T (BBT) is recently up 16c to $30.55 after the board of BB&T declared a 2Q12 dividend of 20c per share, a 4c increase from the 16c dividend previously announced for Q2 on Feb. 21. Overall option implied volatility of 24 is below its 26-week average of 33.
 
State Street (STT) is recently up 83c to $44.70 after the board approved a $1.8B repurchase program. Overall option implied volatility of 26 is below its 26-week average of 33.
 
BNY Mellon (BK) is recently down 16c to $23.16 after the company announced plans to move forward with Capital Plan and will repurchase $1.16B in common stock. Overall option implied volatility of 27 is below its 26-week average of 37.
 
Financial stocks with significant call volume increases at CBOE;
 
Bank of America (BAC) 188K contracts
JPMorgan (JPM) 65K
Citigroup (C) 58K
Financial Select Sector (XLF) 53K