Blogging Options: CBOE Morning Update 8.12.13

Volatility as an asset class

Blackberry (BBRY) resumed after a delayed opening at $10.45, up $0.70 as the company says a special committee was  formed to explore strategic alternatives. Overall option implied volatility of 57 is below its 26-week average of 69.

Tesla Motors (TSLA) is down $4.00 to $148.60 in the premarket being downgraded on less attractive risk/reward at Lazard Capital. Overall option implied volatility of 59 is near its 26-week average of 56.

Options expected to be active @ CBOE; BBRY AAPL NOK DELL TSLA FB GMCR

CBOE S&P 500 BuyWrite Index (BXM) closed at $965.08, above 50-day moving average of 956.22.

CBOE Volatility Index (VIX) closed at 13.41, above its 10-day moving average of 12.81, and below its 50-day moving average of 15.17.

SPDR S&P 500 ETF Trust (SPY) is off $0.80 to $168.51, the weakness is being attributed to lower than expected economic growth out of Japan.

Calls with increasing volume at CBOE:

BAC 8/17/2013 14.50 19K contracts
SPY 8/9/2013 169 14K
CSCO 8/17/2013 27 12K
DOW 9/21/2013 39 12K
AAPL 8/9/2013 460 11K
FB 8/9/2013 38.50 10K

LNKD was upgraded, Asian stocks higher except for NIKKEI, European stocks mixed to lower.