Day 1 for Mini Options – More Than 21,000 Volume

The five new Mini options with multipliers of 10 launched yesterday March 18th.

A blog at wsj.com reported that

“Mini Options See ‘Respectable’ Start … Some investors with relatively small amounts of cash have had a hard time taking positions in companies like Apple, whose stock trades for about $450 a share. … standard options are tied to the delivery of 100 shares. The new, smaller options are tied to just 10. … “

The reported volumes on Day 1 were —

  • 8,738 AAPL7 www.cboe.com/AAPL
  • 978 AMZN7 www.cboe.com/AMZN
  • 454 GOOG7 www.cboe.com/GOOG
  • 3,922 GLD7 www.cboe.com/GLD
  • 7,562 SPY7 www.cboe.com/SPY
  • 21,654 Total www.cboe.com/Mini

APPLE INC. – PRICES AND IMPLIED VOLATILITY

A recent Bloomberg news story by Cecile Vannucci and Nikolaj Gammeltoft noted that “Traders are paying the most in five years for bullish Apple Inc. options relative to U.S. technology companies on speculation the shares are poised to rebound from a 35 percent plunge since September.”

As shown in the charts below, the price fluctuations over the past week were roughly –

  • Between 426 and 461 for Apple (AAPL); and
  • Between 27.9 and 31.1 for the CBOE Equity VIX on Apple (VXAPL)

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