Blogging Options

Volatility as an asset class
 
First Solar (FLSR) is down $4.40 to $27.02 in the premarket after the solar-panel maker provided weak guidance. Overall option implied volatility of 94 is above its 26-week average of 63.
 
Papa John’s (PZZA) is indicated lower in the preopen after restating financial results for 2009-2011 and missing Q4 EPS estimates. Overall option implied volatility of 54 is above its 26-week average of 25.
 
Priceline.com (PCLN) is up $29.52 to $708 in the premarket after reporting Q4 earnings rising 24% on accelerating international bookings growth. March weekly put option implied volatility is at 103, March is at 46, April is at 33, May is at 35; compared to its 26-week average of 34.
 
Apple (AAPL) is off $1.06 to $447.92 in the premarket into today’s annual shareholder meeting. Overall option implied volatility of 30 is below its 26-week average of 32.
 
VIX methodology for Apple (VXAPL) closed at 31.90; above its 10-day moving average of 30.40 and below its 50-day moving average of 35.81.
 
CBOE S&P 500 BuyWrite Index (BXM) closed at $916.84; below its 10-day moving average of 924.12 and above its 50-day moving average of 915.83. www.cboe.com/BXM
 
CBOE Volatility Index (VIX) closed at 16.87, above its 10-day moving average of 14.29, and its 50-day moving average of 14.74.
 
S&P Futures are up modestly in the premarket on mixed international equity movement.
 
Calls with increasing volume at CBOE:
SPY 3/16/2013 154 15K contracts
MET 3/16/2013 38 10K
DTV 6/22/2013 559K
 
Puts with increasing volume at CBOE:
XLF 6/22/2013 16 64K contracts
SPY 3/1/2013 149 57K

Rise in Factory Orders helps firm up opening.

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