Blogging Options: CBOE Morning Update

Volatility as an asset class

Alcoa (AA) is up $0.23c to $9.33 after reporting in-line earnings and better than expected revenue. Overall option implied volatility 32 is near its 26-week average of 33.

Clearwire (CLWR) is up $0.23 to $3.15 in the premarket after an unsolicited bid from DISH Networks (DISH) to buy the company for $3.30 per share, besting Sprint Nextel (S) buyout offer. Overall option implied volatility of 25 is near its 2-week average of 26.

Seagate (STX) is higher by $0.85c to $32.24 in the premarket after the data-storage company reported preliminary revenue above Street estimates. Overall option implied volatility of 39 is near its 26-week average.

Apollo Group (APOL) is down $2.00 to $18.96 after the for profit educator lowered 2013 guidance and on continued demand weakness. Overall option implied volatility of 98 is above its 26-week average of 44.

CBOE Volatility Index-VIX closed at 13.62, below its 10-day moving average of 16.87, and its 50-day moving average is 16.80.

SPDR S&P 500 ETF Trust (SPY) is recently trading mixed to lower in the premarket into earnings season.

Calls with increasing volume at CBOE;

SPY 3/28/2013 155 27K contracts
QQQ 1/19/2013 67 11K contracts
BAC 2/16/2013 12 11K
C 3/16/2013 50 10K
GM 1/18/2014 37 7K
GGC 2/16/2013 50 6K