Volatility as an asset class
Tiffany (TIF) is recently down $4.91 to $56.89 on less than expected sales guidance. June put option implied volatility has decreased to 36 from a level of 47 on May 22 and is now near its 26-week average of 35.
PVH Corp. (PVH) is recently up $4.73 to $82.10 after it raised its full year adjusted earnings view. June and July calls option implied volatility of 38 is above its 26-week average of 35.
United States Oil Fund (USO) June weekly put implied volatility is at 26, June is at 28, July is at 31; compared to its 26-week average of 31 as oil trades rally’s above $91 after trading below $90 on May 22.
U.S. equities mixed to lower on Chinese banks may fall short of loan targets.
CBOE Volatility Index (VIX) is recently up 45c to 22.78. June 30 and 32 call spreaders are active on total option volume of 420K contracts.