Blogging Options: CBOE Morning Update 4.25.13

Volatility as an asset class

3M Company (MMM) is down $2.88 to $105.00 in early trading after the consumer and industrial product manufacturer revenue grew less than expected. Overall option implied volatility of 17 is near its 26-week average of 17.

Akamai (AKAM) is up $6.87 to $42.96 after the operator of a network of servers reported Q1 earnings rose 65%. Overall option implied volatility of 48 is above its 26-week average of 39.

Fusion-io (FIO) is higher by $2.62 to $19.25 after the date storage provider reported a better than expected Q3 loss. Overall option implied volatility of 62 is above its 26-week average of 58.

VIX methodology for iShares Silver Trust (VXSLV) closed at 34.66; above its 50-day moving average of 27.20.

CBOE VIX methodology for Market Vectors Gold Miners Fund (VXGDX) closed at 40.34, above its 50-day moving average of 32.24.

Options expected to be active on open; FSLR AAPL CLF MMM FCX ZNGA QCOM VOD INTU CTXS DD AMZN

CBOE S&P 500 BuyWrite Index (BXM) closed at $956; above its 10-day moving average of 948.73 and above its 50-day moving average of 937.76. www.cboe.com/BXM

CBOE Volatility Index (VIX) closed at 13.61 yesterday, and is lower by 0.24, below its 10-day moving average of 14.60, and its 50-day moving average of 13.73. www.cboe.com/VIX.

SPDR S&P 500 ETF Trust (SPY) is recently up 74c to $158.63 as corporate earnings improved investor sentiment.

Calls with increasing volume at CBOE yesterday:

GLW 8/17/2013 14 62K contracts
QQQ 5/18/2013 71 15K
AIG 8/17/2013 45 13K
PG 5/18/2013 82.5 10K
X 5/18/2013 22 10K
SPY 4/26/2013 158 10K
MBI 8/17/2013 16 10K
MSFT 6/22/2013 32 9K

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Marty Kearney

Mr. Kearney began his long association with the CBOE when he became an independent Market Maker in early 1981. Mr. Kearney traded options full time on the trading floor until 1992 and periodically thereafter until 1996. In early 1992 he became a founding partner and Registered Options Principal of a brokerage firm based in…

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