Blogging Options: CBOE Morning Update

Volatility as an asset class

Wynn Resorts (WYNN) is flat at $125.22 in the premarket on Q4 revenue of $1.29B, compared to consensus $1.27B, net revenue for Macau Operations was $898M, a 9.7% decrease from Q4 of 2011. Overall option implied volatility of 29 is below its 26-week average of 32.

Exxon Mobil (XOM) is up $0.63 to $90.60 in the premarket on the company reporting Q4 EPS $2.20, compared to consensus $2.00. Overall option implied volatility of 16 is near its 26-week average of 17.

Tidewater (TDW) is up $2.20 to $51.37 in the premarket, the provider of marine support services to offshore energy operators, reported Q3 EPS 61c, above its consensus 43c. Overall option implied volatility of 26 is near its 26-week average.

CBOE Crude Volatility Index (OVX) at 22.54, below 50-day moving average of 26.95; WTI Crude oil @ $97.20

CBOE Volatility Index (VIX) closed at 14.28, above its 10-day moving average of 13.19, and its 50-day moving average of 15.38.

Calls with increasing volume at CBOE;

SPY 2/1/2013 151 30K contracts
F 3/16/2013 13 9K
SPY 2/16/2013 151 8K
FB 2/1/2013 32 8K
AAPL 2/1/2013 460 6K

SPDR S&P 500 ETF Trust (SPY) is higher by $1.00 to 150.70 in the premarket after the SPY rose 5.2% in January – the strongest start to a year since 1997.

January saw 157k new jobs added, lower than the mid-160’s expected. December was revised higher by 40k. There is also a large statistical revision on the way. 

The Jobless Rate rose to 7.9% from 7.8%. The street was looking for 7.7% to 7.8%.