Blogging Options: CBOE Mid-Day Update 8.6.13

Volatility as an asset class

MGM Resorts (MGM) is up $0.60 to $17.15 after the casino operator reported Q2 loss narrowing as domestic and China casino revenue improved. August call option implied volatility is at 33, September is at 34, October is at 32, December is at 33; compared to its 26-week average of 35.

Fossil (FOSL) is higher by $19.93 to $127.36 after the fashion-accessories retailer reported Q2 earnings increased 18%. August option implied volatility is at 40, September is at 30, January is at 34; compared to its 26-week average of 36.

Charter (CHTR) is down $2.72 to $127.43 after the broadband communications operator reported a Q2 loss increasing on higher revenue. August call option implied volatility is at 38, September is at 32, December is at 31; compared to its 26-week average of 31.

J.C. Penney (JCP) August 12 and January 5 puts active on CBOE as shares trend lower into Q2.

Intel (INTC) October 20, 22 and 24 puts are active.

Actives:  AAPL MGM HPQ C POT WMT BBT BP TSLA FB JCP

CBOE Volatility Index (VIX) moved up 0.76 to 12.60. VIX September 17 and 27 calls are active on total option volume of 973K contacts at the CBOE.

S&P 100 Options (OEX) is down 4.06 to $760.26 as traders took profits from a recent rally.  Oil and gold off, 10-year at 2.66%.