Blogging Options: CBOE Afternoon Update

Volatility as an asset class:

Valeant Pharmaceuticals (VRX) was up $7.51 to $58.78 following the acquisition of Medicis Pharmaceutical (MRX) for $2.6B ($44.00 per share in cash). September call option implied volatility is at 40, October is at 39; near its 26-week average.
Netflix (NFLX) dropped $3.79 to close at $55.93 after Amazon (AMZN) reaches a deal with pay channel Epix. September call option implied volatility is at 57, October is at 54, December is at 60; compared to its 26-week average of 59 as share trade near a fresh 28-month low, a shade under $53.
Facebook (FB) closed at $17.73 after hitting a record low of $17.55. September 17 weekly puts and September 20 calls are active on 30K contracts at CBOE Overall option implied volatility of 53 is below its 26-week average of 57.
S&P 100 Options (OEX) was down 0.86 to 645.55 as traders prepare for the August employment report on September 7. FDX cut guidance after the close, off ~$3.50 in extended hours trading.

CBOE Volatility Index (VIX) closed up 0.51 to 17.98 on active CBOE volume. VIX total option volume of 255K contacts.