Blogging Options: CBOE Afternoon Update

Volatility as an asset class:

Apple (AAPL) set a new record high of $647.25 on chatter of new iPhone and iPad products. Overall option implied volatility of 29 is near its 26-week average of 31.
Gap Inc. (GPS) is trading $1.81 to $36.15 on Q2 earnings rising a better than expected 29%. September and December call option implied volatility of 29 is below its 26-week average of 33.
J.M. Smuckers (SJM) is up $4.12 to $83.10 on better than expected Q1 sales. September call option implied volatility is at 13, October is at 14; compared to its 26-week average of 20.
S&P 100 Options (OEX) is flat at $651, up $0.42 after trading at new four-year high early in the session.

CBOE Volatility Index (VIX) is down 78c to 13.51, a fresh five-year low and below its 200-day moving average is 20.61. August 15 puts are active on total put volume of 332K contracts.

Expiration in a few minutes. Remember that Aug VIX last trading day is next Tuesday and settles Wed AM.