Volatility as an asset class:
Casey’s General Stores (CASY) is up $3.84 to $59.50 in the premarket following Q1 EPS results of $1.01, compared to consensus 95c. Overall option implied volatility of 40 is above its 26-week average of 31.
El Paso Pipeline LP (EPB) is down $1.42 to $34.05 on the company commencing an offering of 7.1M units representing limited partner interests. Overall option implied volatility of 20 is near its 26-week average.
Palo Alto Networks (PANW) is down $4.55 to $67.20 after reporting fiscal Q4 loss narrowed as the network security firm’s revenues strengthened. Overall option implied volatility of 60 is above its two-week average of 51.
CBOE Volatility Index-VIX closed at 16.28, below its 10-day moving average of 16.71 and its 50-day moving average of 16.57.
Calls with increasing volume at CBOE;
GLD 9/22/2012 166 13K contracts
BAC 9/22/2012 9 11K
QQQ 9/22/2012 69 10K
VXX 12/22/2012 18 10K
CSCO 1/19/2013 22 8K
SPY 9/22/2012 146 7K
JPM 9/22/2012 39 7K
U.S. stocks are mixed to higher into the Thursday Fed meeting results and the court hearing in Germany tomorrow. European and Asian stocks mixed to lower. MCD Same Store Sales in the US & Europe off slightly, up in Asia. MCD up $0.45 in pre-market. International Trade -$42B, in-line.