Blogging Options: CBOE Morning Update

Volatility as an asset class
 
Bed Bath & Beyond (BBBY) is recently up $3.22 to $69.45 in the premarket after reporting Q4 EPS $1.48, consensus $1.33. Overall option implied volatility of 28 is below its 26-week average of 32.

Macy’s (M) is recently up 40c to $41.30 in the premarket on the company sees March-April SSS up 4.3%-4.5%. Overall option implied volatility of 30 is below its 26-week average of 37.

Target (TGT) is recently up 73c to $58.55 in the premarket after reporting March SSS up 7.3% . Overall option implied volatility of 20 is below its 26-week average of 25.
 
Gap (GPS) is recently up 55c to $27.50 in the premarket after reporting March SSS up 8%. Overall option implied volatility of 33 is below its 26-week average of 35.
 

CBOE Volatility Index-VIX closed at 16.44, 10-day moving average is 15.44, 50-day moving average is 17.32.
 
Stocks with significant put volume increases;
MMR 4/21/2012 10 14K contracts
 
AAPL 4/5/2012 620 13K
 
BAC 4/5/2012 9 11K
 
GLD 5/19/2012 154 9K
 
CHK 4/21/2012 22 6K

U.S. equities are slightly lower after the opening on concerns euro countries have yet to contain their sovereign debt crisis. Friday is an exchange holiday in the US, but we will have the release of March jobless claims at the normal time. With a long weekend approaching and little news expected this afternoon, most traders watching their trading screens and the first round of The Masters.