Blogging Options: CBOE Mid-day Update

Volatility as an asset class

Insmed (INSM) is recently down $1.17 to $10.19 after the release of top-line results from phase 3 clinical trial of ARIKACE to treat Pseudomonas aeruginosa in Cystic Fibrosis. July call option implied volatility is at 87, August is at 97, November is at 93; below its 26-week average of 107.

Best Buy (BBY) is recently up $2.43 to $29.79 after Credit Suisse resumed coverage on Best Buy with an Outperform and raised its price target raised to $40 from $32. Overall option implied volatility of 38 is below its 26-week average of 44.

InterDigital (IDCC) is recently down $5.95 to $38.7 after an administrative law judge ruling. July call option implied volatility is at 44, August is at 43; above its 26-week average of 35.

iShares Silver Trust (SLV) is recently up 8c to $19.05. Overall implied volatility of 37 is above its 26-week average of 29. Silver is recently up 1.21% to $19.71.

VIX methodology for iShares Silver Trust (VXSLV) is recently down 3.9% to 44.47; above its 50-day moving average of 37.70.

SPDR Gold Trust (GLD) is recently up $2.42 to $121.52. July call option implied volatility at 27 above its 26-week average of 19. Gold is recently up 2.63% to $1,255.90.

CBOE VIX methodology for Market Vectors Gold Miners Fund (VXGDX) is recently down 6% to 50.05, above its 50-day moving average of 43.50.

CBOE Gold ETF Volatility Index (GVZ) is recently down 7.9% to $29.35.

Actives:  AAPL TSLA ONXX C ABX NFLX WLT GOOG AMZN

CBOE Volatility Index (VIX) is recently down 79c to 16.07. VIX July 15 and 16 puts are active on total option volume of 194K contacts at the CBOE.

S&P 100 Options (OEX) is recently up $8.18 to $728.88 on positive U.S. Manufacturing data.