Volatility as an asset class:
Tiffany (TIF) is up $3.50 to $62.00 on a Q2 profit increase of 2% but lower 2013 sales guidance. Overall option implied volatility of 37 is above its 26-week average of 33.
Dollar Thrifty Automotive Group (DTG) is trading up $5.96 to $86.96 on Hertz Global Holdings (HTZ) acquiring the company for $87.50 per share in cash in a transaction valued at approximately $2.3B. Overall option implied volatility of 34 was near its 26-week average of 33.
Hudson City Bancorp (HCBK) is up 86c to $7.30 following M&T Bank announcing the acquisition of the company for $3.7B. Overall option implied volatility of 30 near its 26-week average of 32.
CBOE Volatility Index-VIX closed at 15.18, below its 50-day moving average of 17.08.
Calls with increasing volume at CBOE Friday;
SPY 12/31/2012 152 51K contracts
AAPL 8/24/2012 665 29K
EWZ 9/22/2012 57 10K
QQQ 8/24/2012 68 8K
U.S. stocks are mixed to higher in quite overseas trading. Great Britain markets closed today. Asian markets down, grains mixed.
AAPL up $11.78 to $675 after court decision. Midwest mfg only important data released today.