Blogging Options: CBOE Mid-day Update

Volatility as an asset class

Darden (DRI) is recently up 51c to $49.47 on Q3 Olive Garden U.S. same restaurant sales down 4.1%, Red Lobster U.S. down 6.6%, Longhorn U.S. down 1.6%. April call option implied volatility is at 16, May and July is at 17; compared to its 26-week average of 23.

Tiffany (TIF) is recently up $1.22 to $69.11 after the jewelry retailer sees FY13 results better than analyst expectations. April, May and August call option implied volatility is at 22; below its 26-week average of 30.

Blackberry (BBRY) is recently up 14c to $16.29 after releasing its next generation Z10 device. Overall option implied volatility of 84 is above its 26-week average of 70.

Mini-options trading at CBOE; AAPL7, AMZN7, GOOG7, GLD7 and SPY7. cboe.com/minis

CBOE S&P 500 2% OTM BuyWrite Index (BXY) is recently up 6.25 to 1266.95, above its 50-day moving average of 1234.55. www.cboe.com/BXY

Active options at CBOE: AAPL BAC GOOG CLF MDLZ HPQ INTC BP

CBOE Volatility Index (VIX) is recently down .27 to 13.72. VIX April 17 and 20 calls are active on total option volume of 296K contacts at the CBOE.

S&P 100 Options (OEX) is recently up $4.50 to $699.36 as optimism increased that an alternative bailout deal for Cyprus can be reached.