Blogging Options: CBOE Morning Update

Volatility as an asset class:
 
IBM (IBM) is up $4.85 to $193.10 after announcing generated free cash flow of $3.7B in Q2, up 9%. Overall option implied volatility of 23 is near its 26-week average of 22.
 
Verizon (VZ) is down 70c to $45.20 in the premarket after reporting Q2 EPS 64c, consensus 64c. Overall option implied volatility of 16 is near its 26-week average of 17.
 
eBay (EBAY) is up $2.85 to $43.30 in the premarket after reporting Q2 EPS 56c, consensus 55c. Overall option implied volatility of 42 compares to its 26-week average of 36.
 
Qualcomm (QCOM) is up $3.25 to $59.39 in the premarket after reporting Q3 revenue $4.63, consensus $4.68B. Overall option implied volatility of 32 is above its 26-week average of 27.
 

Active calls at CBOE:
 
SPY 7/21/2012 137 37K contracts
 
BAC 7/21/2012 8 20K
 
GE 7/21/2012 20 18K
 
AAPL 7/21/2012 610 11K
 
HAL 7/21/2012 30 9K

U.S. stocks are higher on corporate earnings that topped estimates. CBOE Volatility Index-VIX closed at 16.15, a four-month low, 10-day moving average is 17.40, 50-day moving average is 20.48. Jobless Claims slightly better than anticipated.
 

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