Blogging Options: CBOE Mid-day Update 4.12.13

Volatility as an asset class

JP Morgan (JPM) is recently down 10c to $49.21 as Q1 net income rose 33% on a revenue decrease of 4%.  April and May call option implied volatility is at 17, June is at 18; compared to its 26-week average of 22.

Wells Fargo (WFC) is recently down 58c to $36.93 as Q1 profit rose 22% on a revenue decrease of 1.7% on weak loan origination. April and May call option implied volatility is at 15, June is at 15; compared to its 26-week average of 22.

Ashland (ASH) is recently up $5.24 to $84.09 on JANA Partners, an activist shareholder, reporting a 7.4% stake in the specialty chemical company. April call option implied volatility is at 26, May is at 29, June is at 25; compared to its 26-week average of 27.

CBOE S&P 500 2% OTM BuyWrite Index (BXY) is recently down 3.30 to 1293.40, above its 10-day moving average of 1280.73 and its 50-day moving average of 1252.90. www.cboe.com/BXY

Options active at CBOE: AAPL ABX GOOG NFLX C BIDU RAD DELL.

Active metal stocks and ETF’s at CBOE: GLD SLW SLV ABX NEM GG GDX.

CBOE Volatility Index (VIX) is recently up 35c to 12.59. VIX April and May 17 calls are active on total option volume of 201K contacts at the CBOE.

S&P 100 Options (OEX) is recently down 2.64 to $714.532 on retail data and bank results.