Blogging Options: CBOE Mid-day Update

Volatility as an asset class

Research in Motion (RIMM) is recently up 70c to $11.81 after the company was upgraded to Buy from Neutral at Goldman Sachs. December put option implied volatility is at 86, January is at 78; above its 26-week average of 69.

Barnes & Noble (BKS) is recently down $1.41 to $14.65 following the bookseller reporting a small Q2 profit on margin improvements. December put option implied volatility is at 59, January is at 61; compared to its 26-week average of 58.

Tiffany (TIF) is recently down $4.37 to $59.33 after reporting Q3 revenue of $852.7M, compared to consensus $859.16M. December put option implied volatility is at 26, January and February is at 29; compared to its 26-week average of 33.

CBOE Volatility Index (VIX) is recently down 26c to 15.25. VIX December 14, 15 and 16 puts are active on total option volume of 440K contacts at the CBOE.

S&P 100 Options (OEX) is recently up 2.58 to $646.20. Stocks were higher throughout the morning but fell sharply after tough words from House Speaker John Boehner aimed at Democrats and the White House.