Blogging Options: CBOE Mid-day Update 4.16.13

Volatility as an asset class

U.S. Bancorp (USB) is recently down 72c to $32.58 after the bank reported Q1 revenue of $4.87B, compared to consensus $5.03B. May call option implied volatility is at 16, June is at 15; compared to its 26-week average of 18.

BlackRock (BLK) is recently up 64c to $254.50 after the asset manager reported a Q1 profit increase of 10%. May and July call option implied volatility of 20 is near its 26-week average of 21.

Whirlpool (WHR) is recently up $3.11 to $116.23 after the appliance manufacturer increased its dividend by 25% to 62.5c from 50c. May call option implied volatility is at 34, September is at 29; compared to its 26-week average of 35.

Target (TGT) is recently down 44c to $68.04 after the retailer guided Q1 net lower.  May and July call option implied volatility of 16 is below its 26-week average of 18.

CBOE S&P 500 2% OTM BuyWrite Index (BXY) is recently up 14.45 to 1283.60, above its 10-day moving average of 1280.70 and its 50-day moving average of 1255.04. www.cboe.com/BXY

Options active at CBOE: AAPL C KO ABX GS BP TSLA INTC NFLX

CBOE Volatility Index (VIX) is recently down $2.98 to 14.29. VIX April 14 puts and April 17 calls are active on total option volume of 587K contacts at the CBOE.

S&P 100 Options (OEX) is recently up 7.46 to $708.12 after inflation data reinforced expectations that the Federal Reserve’s stimulus will stay in place.

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