Blogging Options: CBOE Mid-day Update

Volatility as an asset class

Micron (MU) is recently down 56c to $6.24 after the company reported weaker than expected Q1 results; however the firm remains upbeat for positive memory industry trends. January put option implied volatility is at 59, April is at 49; compared to its 26-week average of 52.

Red Hat (RHT) is recently up $2.09 to $54.70 after the software company reported stronger than expected results. January call option implied volatility is at 34, March is at 32; below its 26-week average of 42.

Tibco (TIBX) is recently up $1.26 to $22.04 after the real-time data management analytics software company reported better than expected Q4 results and says its targeting 15%-20% long-term EPS growth. January put option implied volatility is at 44, February is at 45, May is at 52; compared to its 26-week average of 45.

Active options at CBOE: SPY AAPL GLD EEM EWZ SLV DIA RIMM BAC C.

CBOE Volatility Index (VIX) is recently up 7.8% to 19.04. VIX January 15, 16 and 17 puts are active on total option volume of 237K contacts at the CBOE.

S&P 100 Options (OEX) is recently down 1.2% to $647.48 on the headlines that talks are breaking down in Washington to craft a fiscal package.