Blogging Options: CBOE Morning Update

Volatility as an asset class:
 
Hewlett-Packard (HPQ) is down 85c to $18.40 in the premarket on the company seeing future financial results well below normal seasonality. Revenues light. Overall option implied volatility of 38 is above its 26-week average of 34.

Hormel (HRL) is up 83c to $29.25 in the premarket on Q3 net rising 13% on Spam & turkey revenue growth. Overall option implied volatility of 26 is above its 26-week average of 20.
 
Guess (GES) is down $5.58 to $27.96 in the premarket on the company seeing FY13 revenue $2.62B-$2.65B, consensus $2.71B. Overall option implied volatility of 50 is above its 26-week average of 40.
 
CBOE Volatility Index-VIX closed at 15.10, below its 10-day moving average of 14.50, and below its 50-day moving average of 17.37.
 

 

Calls with increasing volume at CBOE;
 
XLF 11/17/2012 15 41K contracts
 
CSCO 12/22/2012 22 40K
 
AAPL 8/24/2012 660 19K
 
SPY 9/22/2012 147 18K

U.S. stocks are mixed to lower following Hewlett-Packard (HPQ) seeing below normal seasonality revenue in upcoming quarters. Weekly Initial Claims weaker, 10-year down 4 bips.

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