Blogging Options: CBOE Morning Update

Volatility as an asset class:
Sirius XM (SIRI) is up 7c to $2.27 in the premarket on the company seeing FY12 revenue $3.4B, consensus $3.3B. Overall option implied volatility of 43 is near its 26-week average of 44.
Fossil (FOSL) is up $13.96 to $83.75 in the premarket on Q2 EPS 92c, compared to consensus 78c. Overall option implied volatility of 76 is above its 26-week average of 54.
Boston Properties (BXP) reported Q2 revenue $472.9M, compared to consensus $432.2M. Overall option implied volatility of 19 is below its 26-week average of 22.

CBOE Volatility Index (VIX) closed at $15.95, near the low end of its five-year range.

Calls with increasing volume at CBOE
KCG 8/18/2012 4 15K contracts
HCA 9/22/2012 30 13K
SPY 8/18/2012 142 11K
NAV 9/22/2012 30 9K
EWP 1/19/2013 26 9K
BAC 8/18/2012 8 9K

U.S. stocks are mixed to higher as southern European note prices declined. Weaker economic news from several Euro countries ignored. If you’re on the west coast, fill up the gas tank on the way in to work this morning. The third largest refinery on the west coast, near SF, had a big fire early this morning. It’s owned by Chevron (CVX), up $0.10 pre market.