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.
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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.