Blogging Options: CBOE Morning Update

Volatility as an asset class

Airline stocks option implied volatility is low as New York airports remain mostly closed until Thursday

JetBlue (JBLU) overall option implied volatility of 40 is below its 26-week average of 43.

Delta Air Lines (DAL) overall option implied volatility of 43 is below its 26-week average of 47.

Southwest (LUV) overall option implied volatility of 28 is below its 26-week average of 31.

US Airways (LCC) overall option implied volatility of 50 is below to its 26-week average of 65.

United Continental (UAL) overall option implied volatility of 44 is near its 26-week average of 46.
 

CBOE Volatility Index (VIX) closed at 17.81, above its 10-day moving average of 17.24 and 50-day MA of 15.91.

U.S. stocks are trading higher (S&P Futures up 7 points, DJIA Futures up 60) in the premarket into New York markets reopening and end of month trading. European and Asian stocks slightly higher. Active opening expected after 4-day layoff. VIX begins week at 17.81.