Blogging Options: CBOE Mid-day Update

Volatility as an asset class

Research in Motion (RIMM) is recently up $1.35 to $14.90 as shares react positively from Apple (APPL) sales momentum concerns. January call option implied volatility is at 91, February is at 92, March is at 75, April is at 77; compared to its 26-week average of 67.

Cirrus Logic (CRUS) is recently down $2.83 to $28.74 on concerns Apple (AAPL) growth will affect Q3 results on January 23. January put option implied volatility is at 56, February is at 71, March is at 64, June is at 60; compared to its 26-week average of 59.

Ford (F) is recently up 1c to $14.01 as shares trade near its 16-month high on the enthusiasm created at The North American International Auto Show (NAIAS). Overall option implied volatility of 27 is below its 26-week average of 31.

CBOE Crude Oil ETF Volatility Index (OVX) is recently up 69c to $25.26, below its 50-day moving average of 29.03. www.cboe.com/micro/oilvix/introduction.aspx

CBOE Volatility Index (VIX) is recently up 1.5% to 13.56. VIX February 14 and 17 puts are active on total option volume of 701K contacts at the CBOE.

SPDR S&P 500 ETF Trust (SPY) is recently down 0.2% to $146.80 at midday into earnings releases from J. P. Morgan, Goldman Sachs and General Electric.