Blogging Options: CBOE Mid-day Update

Volatility as an asset class

United Technologies (UTX) is recently down 47c to $77.36 after reporting adjusted earnings that beat expectations and backed its full year earnings outlook. November call option implied volatility of 21 is below its 26-week average of 23.

Coach (COH) is recently up $4.60 to $58.78 on the release of better than expected Q1 results and its board authorizing a repurchase of up to $1.5B of stock by June 30, 2015. November call option implied volatility is at 33, December and January is at 32; below its 26-week average of 38.

Target (TGT) is recently down 1c to $62.20 after selling its credit card portfolio to TD Bank (TD). Overall option implied volatility of 17 is below its 26-week average of 19.

S&P 100 Options (OEX) is recently down 8.92 to $648.66 as investors react to weak corporate revenue growth reports.

CBOE Volatility Index (VIX) is recently up 1.83 to 18.45. VIX November 18 and 19 calls are active on total option volume of 359K contacts at the CBOE.