Volatility as an asset class;
Market Vector Gold Miners (GDX) is down 20c to $53.66 in pre-open trading as gold trades above $1771, near a six-month high. Overall option implied volatility of 31 is near its 26-week average of 32 into September expiration on September 21.
Russell 2000 (IWM) is down 44c to $85.96 in the preopen as stocks trade near five-year highs. Overall implied volatility of 20 is near 26-week average.
Financial Select Sector (XLF) overall volatility of 20 is below its 26-week average of 23 according to Track Data.
U.S. stocks are lower in the premarket after a sharp rally last week. Asian stocks mixed to higher, Europe off. Grains lower, 10-year 1.83%
CBOE Volatility Index (VIX) closed at 14.51. VIX closed below its 10-day moving average of 16.02 and its 50-day MA of 16.42.
Calls with increasing volume at CBOE;
SPY 9/14/2012 147 42K contracts
QQQ 10/20/2012 64 21K
COP 1/19/2013 55 21K
AAPL 9/14/2012 690 19K