Blogging Options: CBOE Afternoon Update

Big Lots (BIG) is down $9.08 to $29.00 after the closeout retailer reported a 38% decrease in Q2 earnings. September, October and January call option implied volatility of 37 is above its 26-week average of 33.

Hain Celestial (HAIN) is up $10.28 to $67.21 after the organic product company acquired Premier Foods PLC’s portfolio of packaged grocery brands and reported a 82% profit increase in Q4. September, October and November call option implied volatility of 32 is near its 26-week average of 33.
International Rectifier (IRF) is down $2.05 to $16.43 after announcing a larger than expected Q4 loss as demand continues to erode for the chip makers products. October and December 17 call option implied volatility of 38 is near its 26-week average.

 CBOE Volatility Index (VIX) is up 1.24 to 16.35, above its 10-day moving average of 14.62. VIX September 23 and 28 calls are active on VIX option volume of 237K contacts at the CBOE. 9.6 million option contracts changed hands by mid-day.

U.S. stocks are lower (DJIA off 117, SPX down 11points) following disappointing domestic and international economic data. Gold up a little, oil off slightly. Grain prices getting hit on midwest rain.