Blogging Options: CBOE Mid-day Update 7.29.13

Volatility as an asset class

Franklin Resources (BEN) is recently down 64c to $48 on Q3 earnings rose 21% as the mutual-fund company collected more management fees.  August, September and October call option implied volatility is at 24; below its 26-week average of 27.

Tenneco (TEN) is recently up 65c to $49.39 after the automotive-parts maker reported an earnings decrease of 28%. August and October call option implied volatility is at 29; compared to its 26-week average of 31.

Simon Property (SPG) is recently down 50c to $164.04 after the nation’s largest mall owner reported Q2 earnings rose 58%. August call option implied volatility is at 15, September and October is at 17; compared to its 26-week average of 17.

Loews (L) is recently down 14c to $45.91 after the holding company reported Q2 revenue increased 13%. August call option implied volatility is at 16, September is at 13, December is at 14; compared to its 26-week average of 17.

Actives:  AAPL C ELN FB NOV TSLA AMZN GOOG DELL BAC HLF

CBOE Volatility Index (VIX) is recently up 1.04 to 13.76. VIX August 17 and 21 calls are active on total option volume of 85K contacts at the CBOE.

iPath S&P 500 VIX Short-Term Futures (VXX) up 1.4% to 15.73

S&P 100 Options (OEX) is recently down $3.22 to $755.94 as stocks pullback from record highs into Wednesday’s statement from the U.S. Federal Reserve.