Blogging Options: CBOE Morning Update 5.2.13

Volatility as an asset class

Seagate (STX) is up $1.56 to $38.50 in the premarket after the data-storage supplier beat analyst expectations.  Overall option implied volatility of 43 is above its 26-week average of 39.

Yelp (YELP) is higher by $2.85 to $27.85 in the premarket after the local listing website reported better than expected Q1 revenue growth. Overall option implied volatility of 54 is below its 26-week average of 62.

General Motors (GM) is up $0.89 to $31.07 in the premarket on better than expected Q1 results. Overall option implied volatility of 32 is near its 26-week average of 30.

Facebook (FB) is trading near $28.00, up $0.60 in the premarket after the social network reported Q1 earnings grew 6.8%.  Overall option implied volatility of 44 is below its 26-week average of 48.

VIX methodology for iShares Silver Trust (VXSLV) closed at 36.61; above its 50-day moving average of 28.18.

CBOE VIX methodology for Market Vectors Gold Miners Fund (VXGDX) closed at 40.27, above its 50-day moving average of 33.66.

Options expected to be active on open; FB AMD ABB BAC GM VOD

CBOE S&P 500 BuyWrite Index (BXM) closed at $957.57; above its 10-day moving average of 953.25 and above its 50-day moving average of 940.81. www.cboe.com/BXM

CBOE Volatility Index (VIX) closed at 14.49, above its 10-day moving average of 14.29, and its 50-day moving average of 13.85. www.cboe.com/VIX

SPDR S&P 500 ETF Trust (SPY) is recently up 60c to $158.88 after the European Central Bank cut its main refinancing rate by 25 basis points to 0.5%.

Calls with increasing volume at CBOE:

SPY 5/3/2013 159.5 43K contracts
F 5/18/2013 14 15K
S 8/17/2013 7 11K
CSCO 1/18/2014 22 8K
EEM 5/18/2013 43.5 8K

ECB cut rates 0.25% as expected, Initial Claims lower than expected.