Blogging Options: CBOE Morning Update 8.27.13

Volatility as an asset class

Tiffany (TIF) is up $1.33 to $83 in the premarket after the jeweler retailer reported Q2 net rose 16%.  August weekly call option implied volatility is at 88, September is at 38, October is at 28, November is at 27; compared to its 26-week average of 27.

SPDR Gold Trust (GLD) is higher by $1.50 to $136.94  as gold is up 1.50% to $1,414 on Middle-east tension. Overall option implied volatility of 21 is above its 26-week average of 19.

J.C. Penney (JCP) is down $0.37 to $12.98 after Bill Ackman’s Pershing Square, the retailer’s largest shareholder, filed to sell its more than 39M share, or 17% stake, in the company. Overall option implied volatility of 57 is below its 26-week average of 65.

Options expected to be active @ CBOE; JCP NOK ABX GFI BAC FB AAPL TSLA GOLD

CBOE S&P 500 BuyWrite Index (BXM) closed at $954.52, below its 50-day moving average of 955.92.

CBOE Volatility Index (VIX) closed at 14.99, above its 10-day moving average of 14.41 and its 50-day moving average of 14.63.

Calls with increasing volume at CBOE:

SPY 12/21/2013 176 15K contracts
CNDO 2/22/2014 10 10K
FB 9/21/2013 42 6K
AAPL 8/30/2013 510 4K
INTC 8/30/2013 22.50 4K

SPDR S&P 500 ETF Trust (SPY) is recently down $1.68 to $164.32 on increasing worries over the situation in Syria. Oil moving higher on mid-east uncertainty.  Case Shiller Home Prices modest rise being ignored.