Blogging Options: CBOE Mid-day Update

Volatility as an asset class:
 
SuperValu (SVU) is recently down $2.32 to $2.97 after the company guided Q1 results below expectations, suspended its dividend and initiated a review of strategic alternatives. August put option implied volatility is at 144, October is at 112, January is at 98; above its 26-week average of 52.
 
Marriott (MAR) is recently down $1.96 to $36.05 after lowers FY12 fee revenue view to $1.41B- $1.44B. August put option implied volatility is at 32, October and January is at 34; compared to its 26-week average of 31.
 
Merck (MRK) is recently up $1.71 to $42.93 after an upgrade to Buy from Neutral at Citigroup. August call option implied volatility is at 16, October is at 15, January is at 16; compared to its 26-week average.
 
U.S. equities sharply lower on global growth concerns.
 
CBOE Volatility Index (VIX) is recently up 47c to 18.42. VIX July 20 puts, August 25 calls and September 20 puts are active on total volume of 525K contacts at the CBOE.