Blogging Options: CBOE Morning Update

Volatility as an asset class:
 
Starbucks (SBUX) is down $5.25 to $47.15 in the premarket after saying it saw slowing same-store sales growth. Overall option implied volatility of 37 is above its 26-week average of 30.
 
Facebook (FB) is down $3.35 to $23.50 in the premarket, hitting record lows for the third consecutive day. Earnings last night and no guidance disappointed. Overall option implied volatility of 65 is above its 26-week average of 57.

Amazon.com (AMZN) is up $2.20 to $222.21 in the premarket on neutral Q2 results, a sharp drop, but an increase in sales. AMZN building warehouses for future growth a long-term plus. Overall option implied volatility of 48 is above its 26-week average.
 
Expedia (EXPE) is up $6.89 to $52.60 in the premarket on better than expected Q2 results. Overall option implied volatility of 56 is above its 26-week average of 37.
 
CBOE Volatility Index (VIX) closed at 17.53, below its 100-day moving average of 18.80 and its 200-day MA of 21.81.
 

Active calls at CBOE:
 
S 8/18/2012 4 22K contracts
 
SPY 8/18/2012 140 17K
 
DELL 1/19/2013 15 10K
 
GE 8/18/2012 21 8K

2Q GDP this morning showed the economy grew 1.5% (better than the +1.4 expected but the lowest reading in a year). Household Spending 1 tick higher than expectations. U of M later this morning. U.S. stocks slightly higher on this and report ECB may purchase debt in the secondary market. Spanish unemployment hitting 24.6% tempering ECB promises.