Volatility as an asset class
Best Buy (BBY) is recently down $2.14 to $11.98 after the company’s board agreed to extend founder Schulze bid window to February 28 from February 21. January put option implied volatility is at 71, March is at 75; above its 26-week average of 58.
Apple (AAPL) is recently down $17.54 to $512.24 after UBS lowered 2013 earnings estimates on iPhone questions. December call option implied volatility is at 41, January is at 39, February is at 42; above its 26-week average of 32. AAPL December 510 calls and puts are active on total option volume of 971K contracts at the CBOE.
General Electric (GE) is recently up 6c to $21.68 after boosting its dividend by 12% to 19c per share and increased its existing share repurchase authorization by $10B. December and January call option implied volatility is at 21, February is at 19; compared to its 26-week average of 22.
CBOE Volatility Index (VIX) is recently up 12c to 16.68. VIX December 17 call and puts are active on total option volume of 269K contacts at the CBOE.
S&P 100 Options (OEX) is recently down $2.62 to $643.70 at midday despite better than expected reports on U.S. industrial production and Chinese manufacturing activity.