Blogging Options: CBOE Morning Update 4.9.2013

Volatility as an asset class

J.C. Penney (JCP) is down $1.35 to $14.53 in the premarket after the retailer announced Ron Johnson is stepping down and appointed Myron Ullman, III CEO, whom  Johnson replaced. Overall option implied volatility of 66 was above its 26-week average of 60.

Alcoa (AA) is down $0.09 to $8.30 in the premarket after reporting a 59% Q1 rise in net profit on a tax benefit. April call option implied volatility is at 53, May is 33, June is at 29; compared to its 26-week average of 27.

Apple (AAPL) April and May call option implied volatility of 41, June is at 33; compared to its 26-week average of 32.

Options expected to be active on open; JCP GPS BMC KSS AA AAPL JPM WFC

CBOE S&P 500 BuyWrite Index $BXM @ 946.23, 50-day MA is 931.85.

CBOE Volatility Index (VIX) closed at 13.19, below its 10-day moving average of 13.39, and its 50-day moving average of 13.55.

SPDR S&P 500 ETF Trust (SPY) is recently up 34c to $156.55 in the premarket as encouraging data that showed consumer inflation in China slowed last month.

Calls with increasing volume at CBOE:
SPY 4/12/2013 157 19K contracts
GT 5/18/2013 13K
INTC 4/20/2013 22 10K
VXX 5/18/2013 20 7K