Blogging Options: CBOE Afternoon Update

Volatility as an asset class

Activision (ATVI) is up 49c to $11.05 after the company said Call Of Duty: Black Ops II sales were over $500M in first 24 hours. December and January call option implied volatility of 31 is near its 26-week average.
 
J.M. Smucker (SJM) is down $2.38 to $83 after raising FY13 views. December put option implied volatility is at 21, January and April is at 20; compared to its 26-week average of 19.

Foot Locker (FL) is up $1.48 to $33.33 as same store sales rose 10%, resulting Q3 net income of $106M. December call option implied volatility is at 26, February is at 27; compared to its 26-week average of 34. 

DJIA down fractionally, SPX and NDX up slightly. Stores reporting a run on Twinkies and Ding-Dongs with Hostess closing.

Nov. Expiration today. SPX and VIX option volume mid-day showed SPX trading ~ 600k options, VIX 463k and SPXpm almost 12k. AAPL busiest stock, with 1.27 million option contracts trading.