Blogging Options: CBOE Morning Update

Volatility as an asset class

Nokia (NOK) is up $0.76 to $4.51 in the premarket after the company says devices & services exceeded expectations in Q4. Overall option implied volatility of 68 is below its 26-week average of 78.

Ford (F) is up $0.25 to $13.71 in the premarket after doubling its quarterly dividend to 10c from 5c. Overall option implied volatility of 28 is below its 26-week average of 31.

Tiffany (TIF) is down $5.51 to $57.80 in the premarket after releasing guidance at the lower end of range. Overall option implied volatility of 32 is near its 26-week average of 33.

SPDR S&P 500 ETF (SPY) is recently up 57c to $146.48 in the premarket. Overall option implied volatility of 15 is below its 26-week average of 17.

CBOE Volatility Index (VIX) closed at 13.81, below its 10-day moving average of 16.39, and its 50-day moving average of 16.72.

S&P 100 Options (OEX) is indicated mixed to higher in the premarket after the ECB leaves rates unchanged at 0.75%.

Calls with increasing volume at CBOE;

FB 1/19/2013 30 8K contracts
BAC 1/11/2013 12 7K
AAPL 1/11/2013 530 6K
SPY 1/11/2013 146 6K
C 6/22/2013 49 5K
STX 1/19/2013 33 5k
S 1/18/2014 10 5K

Europe leaves rates unchanged. Weekly Jobless about unchanged.