Volatility as an asset class:
JPMorgan (JPM) is up 26c to $34.30 in the premarket after reporting Q2 EPS with items $1.21, consensus 72c. Overall option implied volatility of 35 is near its 26-week average of 34.
Wells Fargo (WFC) is down 0.10 to $32.75 in the premarket after reporting Q2 EPS 82c, consensus 81c. Overall option implied volatility of 27 compares to its 26-week average of 29.
Lexmark (LXK) is off $3.31 to $21.00 in the premarket after cutting its Q2 outlook. Overall option implied volatility of 42 is above its 26-week average of 36.
Costco (COST) closed at $94.02, near its record high. Overall option implied volatility of 19 is near its 26-week average of 19.
Active puts at CBOE:
SPY 7/21/2012 133 18K contracts
AAPL 7/13/2012 600 18K
AMRN 1/19/2013 25 13K
IWM 7/21/2012 78 9K
WFC 7/21/2012 34 9K
CBOE Volatility Index-VIX closed at 18.32, 10-day moving average is 17.78, 50-day moving average is 20.60.
U.S. and Asian stocks are bid after China GDP data met expectations. Thursday was the sixth straight down day for the market. PPI rose 0.1% (a rise of 0.5% was expected) despite a drop in fuel prices. Core Rate up 0.2%. Paul Foster tells us that Darden bid for Yardhouse USA for $585m this morning.