Blogging Options: CBOE Mid-Day Update

Volatility as an asset class

Blackberry (BBRY) is up $0.26 to $9.81 after CEO Thorsten Heins says he will explore ‘every opportunity’ to create shareholder value. July weekly call option implied volatility is at 70, July is at 53, August is at 54, September is at 49; compared to its 26-week average of 69.

WD-40 (WDFC) is higher by $1.31 to $58.96 after the lubricant spray company reported Q3 profits rose 12%.  August call option implied volatility is at 30, November is at 25; compared to its 26-week average of 27.

Wolverine Worldwide (WWW) is up $1.27 to $57.59 after the shoe company reported Q2 earnings fall 13%.  August call option implied volatility is at 27, September and December is at 25; compared to its 26-week average of 27.

Actives:  AAPL C ZNGA VOD ABX GOOG AA NFLX FDX

CBOE Volatility Index (VIX) is recently down 0.39 to 14.39. VIX July 15 puts and 16 calls are active on total option volume of 444K contacts at the CBOE.

S&P 100 Options (OEX) is recently up $4.97 to $742.05 on earnings optimism. OEX overall option implied volatility is at 20.

IBM’s price target was cut by Goldman to $200 – IBM off $3.42, $191.56.  Crude up slightly, GLD adds $0.95 and is at $120.44