Blogging Options: CBOE Mid-day Update

Volatility as an asset class

Las Vegas Sands (LVS) is recently up $2.91 to $49.07 on Macau gambling revenue up 13.5% in 2012, AP reports. Overall option implied volatility of 35 is near its 26-week average of 38.

Hewlett-Packard (HPQ) is recently up 70c to $14.95 on the company saying it may dispose businesses that are not meeting targets, Bloomberg reports, citing a recent 10-K filing. January call option implied volatility is at 37, February and May is at 40; near its 26-week average of 37.
 
Dole Food (DOLE) is recently down $1.51 to $9.96 after the produce company says fresh fruit business continues to experience earnings decline. January call option implied volatility is at 37, February and May is at 40; below its 26-week average of 44.

CBOE Volatility Index (VIX) is recently down 12.7% to 15.74. VIX February 24 and 25 calls are active on total option volume of 508K contacts at the CBOE.

S&P 100 Options (OEX) is recently up 1.9% to $658.62 at midday as all sectors rally after the passage of a U.S. budget bill.

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