Blogging Options: CBOE Morning Update

Volatility as an asset class:
 

J.C. Penney (JCP) is down $0.05 to $22.05 in the premarket after being lower by over $1. This following the release of Q2 Same Store Sales down 21.7%. Guidance lowered as well. Overall option implied volatility of 76 is above its 26-week average of 46.
 
Ubiquiti Networks (UBNT) is down $5.81 to $9.20 in the premarket after reporting weak guidance and a bigger than anticipated impact from counterfeiting. Overall option implied volatility of 108 is above its 26-week average of 70.
 
NVIDIA (NVDA) is up 67c to $15.38 in the premarket after reporting Q2 GAAP EPS 19c, consensus 14c. Overall option implied volatility of 47 is near its 26-week average of 46.
 
 
CBOE Volatility Index-VIX closed at 15.28, below its 10-day moving average of 16.83.

 
Calls with increasing volume at CBOE
 

MU 9/22/2012 7 25K contracts
 
WMB 11/17/2012 35 24K
 
SPY 8/18/2012 142 11K
 
IWM 8/18/2012 80 10K
 
TBT 9/22/2012 15 9K
 
BAC 8/18/2012 8 8K

U.S. stocks are lower on less than expected Chinese export growth expectations. July Import Prices down 0.6%. July Crop Report shows yield on Corn & Beans revised lower again. Corn yield 125 bushels per acre, down 23 bushels from last month – lowest yield in 15 years. 10-year bond down 0.04%. RIMM up $0.50 on possible sale of unit to IBM.