Blogging Options: CBOE Morning Update 4.15.13

Volatility as an asset class

VIX methodology for iShares Silver Trust (VXSLV) closed at $31.18; above its 50-day moving average of 24.64 as silver trades down 9.84% to $23.49.

CBOE VIX methodology for Market Vectors Gold Miners Fund (VXGDX) closed at $35.93, above its 50-day moving average of $29.28 as gold trades down 6.21% to $1409.

Sprint (S) is up $0.91 to $7.13 in the premarket after the No. 3 U.S. wireless carrier received a $25.5B bid from Dish Network (DISH) in an attempt to derail Softbank’s  proposal to buy 70% of company for $20.1B.overall.  Option implied volatility of 22 is near its 26-week average of 23.

Citigroup (C) is up $1.00 to $45.78 in the premarket after the international money center reported Q1 results beating estimates as profits rose 30% to $3.8B.  Overall option implied volatility of 28 is below its 26-week average of 32

Options expected to be active on open; C SLV GLD GOOG S CLWR DISH CLWR LIFE

CBOE S&P 500 BuyWrite Index (BXM) closed at $952.26; above its 10-day moving average of 946.79 and above its 50-day moving average of 934.14. www.cboe.com/BXM

CBOE Volatility Index (VIX) closed at 12.06, above its 10-day moving average of 13.10, and its 50-day moving average of 13.46. www.cboe.com/VIX.

SPDR S&P 500 ETF Trust (SPY) is recently down 89c to $157.91 after data from China showed slower growth than estimated.

Calls with increasing volume at CBOE:S

SPY 4/12/2013 158.50 16K contracts
BAC 4/20/2013 12.50 12K
NE 1/18/2014 55 10K
AAPL 4/12/2013 430 9K
FXI 5/18/2013 39 9K
RAD 4/20/2013 2 9K

Gold is getting crushed in overseas trading, off $100 at one point.  NY Empire Mfg for April drops far below expectations.  China growth at 7.7% short of 8% consensus.