Blogging Options: CBOE Mid-day Update

Volatility as an asset class

Take-Two (TTWO) is recently down 90c to $12.12 after the game market announced a delay in the release of Grand Theft Auto V to September. February put option implied volatility is at 51, March is at 44 and June is at 43; compared to its 26-week average of 51.

Potash (POT) is recently down 66c to $42.36 after Q4 profit fell 38% on a sales decrease of 12%. February call option implied volatility is at 21, March is at 20, June is at 21; below its 26-week average of 27.

ConocoPhillips (CPO) is recently down $2.51 to $58.59 after the oil exploration-and-production company reported Q4 earnings declined 58%. March call option implied volatility is at 13, May is at 12; below its 26-week average of 18.

CBOE Gold ETF Volatility Index (GVZ) is + 7% to 14.14, above its 10-day MA of 13.63; www.cboe.com/GVZ

CBOE Volatility Index (VIX) is recently up 0.2% to 14.35. VIX February 16 and 17 calls are active on total option volume of 243K contacts at the CBOE.

S&P 100 Options (OEX) is recently down 0.2% to $675.66 at midday into Friday’s release of January employment report.