Blogging Options: CBOE Afternoon Update

Volatility as an asset class:

Michael Kors gaps up $6.00 to $63.00 after the high end retailer reported better than expected earnings, revenue and guidance. February call option implied volatility is at 39, March is at 34, May is at 35; below its 26-week average of 54.

Citigroup (C) is up $1.22 to $44,37, a 20-month high. Overall option implied volatility of 25 is below its 26-week average of 35.

Capella Education (CPLA) is down $1.20 to $30.81 after the online educator reported a slight Q1 miss and lower than expected Q4 guidance. March call option implied volatility is at 34, June is at 32, September is at 33; compared to its 26-week average of 34.

CBOE Volatility Index (VIX) is recently down 0.06 to 12.88, March 15 and 19 calls are active on total volume of 235K contracts @ CBOE.

S&P 100 Options (OEX) is recently up 1.38 to 684.12 as investors wait to see what President Obama will announce during is State of the Union speech scheduled for tonight. 9.2 million contracts traded near noon today. AAPL off 8 points on corporate news.