Blogging Options: CBOE Morning Update

U.S. equities are sharply lower in the premarket. The slide in equity prices began in Asia as Chinese growth slowed. Concerns about capital outflows from Spain followed. 
 
U.S. Non-farm Payrolls rose 69,000 (consensus had been moving lower all week and was in the +155k range). The unemployment rate rose to 8.2%. Futures dropped sharply after this report.
 
Russell 2000 (IWM) is recently down $1.69 (-2%) to $74.42 in the premarket. Overall implied volatility of 27 is above its 26-week average of 24.

SPDR S&P 500 ETF (SPY) is down 2.35 to $129.13 in the premarket. Overall option implied volatility of 21 is near its 26-week average of 21.
 
CBOE S&P 100 Options (OEX) overall option implied volatility of 20 is near its 26-week average.
 
The Power Shares QQQ Trust (QQQ) is off $1.18 to $60.88 in the premarket. Overall option implied volatility of 22 is above its 26-week average of 21.
 

CBOE Volatility Index-VIX closed at 24.06, 10-day moving average is 22.89, 50-day moving average is 18.80.

Puts with increasing volume at CBOE.

JPM 1/19/2013 28 23K contracts

AAPL 6/1/2012 575 6K
 
KO 8/18/2012 67.5 5K

JOY 7/21/2012 62.5 4K 654

BAC 6/1/2012 7 4K

KMI 6/16/2012 45 4K

Brent Crude trading at an 8-month low (send a message to my gas station), 10-year at 1.48% as flight to quality intensifies. Watch the VIX.

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