Blogging Options: CBOE Morning Update

Volatility as an asset class:
 
Best Buy (BBY) is down $1.71 to $16.45 in the premarket after announcing a Q2 earnings miss, suspending its outlook and buyback. Overall option implied volatility of 49 is above its 26-week average of 45.
 
Facebook (FB) is down 31c to $19.70 in the premarket after Peter Thiel, an early investor in Facebook, sold approximately 20M shares of the company at prices between $19.27 and $20.69 per share. This was a 10b5-1 sale that was filed in May.
Overall option implied volatility of 55 is near its 26-week average of 57.
 
Urban Outfitters (URBN) is up $4.93 to $36.25 in the premarket after the company reported higher than expected Q2 EPS. Overall option implied volatility of 38 is near its 26-week average of 36.
 

CBOE Volatility Index-VIX closed at 14.02, below its 10-day moving average of 14.62 and 50-day moving average of 17.68.

Calls with increasing volume at CBOE;
 
AAPL 8/24/2012 660 15K contracts
 
FB 8/24/2012 20 13K
 
SPY 9/22/2012 142 12K

U.S. stocks are higher on expectations euro-land leaders will move forward in resolving the regions debt crisis. European and Asian stocks mixed to higher. Barnes & Noble with good earnings.